I guess I was in analysis paralysis for a very long time.

Balloon terms 3/5/7 years. 

It’s a short-term option, typically 12 months, that can provide the flexibility and funding needed for a $150K renovation.Here's why it could be a great fit:-No prepayment penalties — so you can sell or refinance without penalties.

I am looking to refinance in the near term either when rates drop to the 6.5% range into a conventional 30 year mortgage or as quickly as I am able into a first lien HELOC to be able to park paychecks into the mortgage and save a significant amount on interest or so it seems.

Hi Robert, in terms of the work that could be done easily I suggest activities such as painting, flooring if you have the proper tools, and tiling.

While you can start with a written agreement, a professional document will help protect both of you, particularly in terms of ownership, responsibilities, and profit-sharing.

Quote from @Marc Zak: In the market where I live (San Diego), appreciation has been strong and many predict it will continue to appreciate in the long term.However, with current interest rates (6% at best) and property tax (2%), the annual cost burden is 8%.Am I correct in saying that appreciation has to be above 8% annually (plus whatever my maintenance and vacancy costs are) for me to make any money in this scenario if the property is cash flow neutral?

Hi @Rachelle BertumenI live and work in the Truckee/Lake Tahoe area and personally own two long-term multifamily units in Reno.

Rates:$2,000 Daily$10,000 Weekly$30,000 Monthly$25,000 Long Term Monthly$3,000 Holiday Daily$15,000 Holiday WeeklyI am looking for insight for anyone who has experience in this market to see how realistic that is... 

That's why mature investors with long positions like Boston while places like Brockton and Holyoke are more affordable.