Yes I did receive the funds which surprised me a little. 

@Iris Olivas Most local banks/credit unions can do this deal with lower fees and potentially rates than brokers.

Make sure to run the numbers on DSCR, CoC return, and cap rates to ensure profitability.

Quote from @Guillermo Perez: Can someone please let me know if this is ok for my first BRRRR.I got a $200k HELOC on my primary residence to help fund my first BRRRR.

New-home sales hit a seasonally adjusted annual rate of 698,000.

Since fix-and-flip income is classified as active income, taxed at ordinary rates, this setup helps minimize overall tax liability.To protect both members, draft a detailed operating agreement outlining roles, ownership percentages, profit-sharing, and an exit strategy in case the business dissolves.

Check their nightly rate, occupancy and amenities.That will give you a pretty good idea of need and profitability.

Ultimately though, it will depend on the lender and the availability of funds (assistance) available for the demographic area that you are purchasing in.Do you have a property that you are looking at?

Hello,I am a real estate investor located to Southeast MA, I own and manage a small portfolio of 23 units and am looking to expand and scale out of state as the returns and market have been quite difficult in my area: due to CAP Rates, specific building class I am looking to invest in, and rising interest rates/minimal inventory, as well as it would be nicer to be diversified and in a more landlord friendly state.  

There are various applications that allow landlords to collect rent, manage payments, and disburse funds.