Just so you know, I'm partnered in 2 private equity funds that have a similar business model to AHP.

Have others used them and had a positive experience?

Lease Terms: Determine a monthly rent payment that covers the HELOC repayment (interest and principal) while providing some positive cash flow for you.                    

Instead, consider a HELOC or home equity loan to fund repairs, as the interest may be deductible if used for home improvements.This post does not create a CPA-Client relationship.

We pride ourselves in keeping the forums positive, helpful, and focused on real estate (please, no politics, religion, etc.).

A $240k loan amount on a $249k purchase price seems crazy and I'd never expect to produce any net positive cash flow doing this.How are you calculating your property taxes?

So eventually this negative cash flow property becomes cash flow positive and pays for itself including property taxes, hoa, mortgage etc.Trying to calculate how bad is my investment here or should i sell out if there is appreciation 

House-hacking can be a very useful way to get ahead but there is no equity in non-paying tenants. 

has anyone had positive/negative results in dealing with a company called 212 Loans?

Between the equity on the condo and the extra cash you have, you can purchase 2-3 homes.