The fact that you’re being cautious and analyzing strategies is actually a good thing—it’s all about making smart, informed decisions.

Personally I’d be cautious about trying to live off the cash flow from one or two rentals even if they are paid off.

We were like you cautious.  

I would say if you're that cautious of how much a pet will damage your property, I would just say no pets in this case.

I would be cautious with Lorain, I don't know that area as well, but there is a high rate of crime in that area. 

As for using your HELOC, it is a good way to get started, just be cautious about over-leveraging if market conditions change. 

I expect to see it rebranded as something else and I would still be cautious about using them, when they tell you they need to clear your funds overseas before ordering.

He was eyeing a property with a HELOC attached, and we found out.. from what I've herd, banks can be a bit cautious when there's a second lien.

This can limit your financing options and potentially lead to higher interest rates.Be cautious about prohibited transactions and disqualified persons, as outlined by IRS rules.

That’s another reason to hold off on an offer, since there's no proof of cash to close yet.As for the HELOC funds, I'd proceed cautiously with borrowing from other sources if you’re not yet certain the loan will close, and I’d double-check if your application has been officially approved.