The world was melting down then, and as was prudent, all credit lines were frozen due to the global meltdown.

Then we find out the gas company Red Tagged the property for having a leak in Dec way before we purchased the property, which we didn't know and we were paying large gas bills which we thought was due to the heater being on while the contractors were working and so the pipes don't get frozen during winter (we live in California what do we know).

We go to property and find frozen, burst pipes and water everywhere, but no tenant.

@Jeff Haak If you are planning a tear down, get your permit application in now and get it done while the ground is still frozen ... it will become much more messy in the spring when there ground is saturated.

The risk I was referring to is if someone loses a job and their HELOC is frozen.

Message me and I can help get you past the frozen state you're in.

You bought- Too high- A 2 bed 600sqft home- A home that needs lots of work just to be rentable- A home you lose money on with the rents from a regular tenantAdditionally, due to the above mistakes and not being able to rent the home easily you:- Were flexible on your tenant selection process- Rented to a company not an individual (therefore not covered/ protected by the residential tenancy board)- Had your pipes frozen because the tenants turned off the furnace (Why?

Wash the decks, stain the decks, clean the gutters, repair the road, fix the septic, repair the roof, trim the trees, rake the leaves, put down the mulch, deal with the critters, fix the appliances, heat during winter, worry about frozen pipes, pay the taxes, pay the insurance, pay the gas, pay the electric.

HELOCs can be frozen by banks.  

I’ve looked in to the same thing on Lake Mtka in MN but believe or not the homes can be just as expensive and it’s a frozen wasteland 6 months out of the year.