Here's some basic copy & paste info that may help you make better investing decisions:----------------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Inspect what you expect.

@Cameron Porter ultimately the most important part is the ARV, inclusive of the expected rehab costs.

On buy-and holds we usually replace all the plumbing with pex, no matter what, because galvanized has a life expectation of about 60 years, so I usually take the sooner than later approach.Stick with hard money, like Mach1 or or MKE hard money (Scott Lurie) as they will not leand on a deal that does not pencil out, so you have the added benefit of someone experienced looking over your numbers.

Managing investor expectations.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

For the second property, I would expect to have to put money into it in some fashion.

You’ll want to make sure your property is styled and stocked to fit the target market catering to what Big Bear has to offer and what guests expect.

Would banks typically provide a HELOC on an investment property, and if so, what terms should I expect?

It is is going to calculate the expected price based off what you tell it as well as what Price Labs sees in the local market.I questioned myself moving to price labs after I had been doing this manually for several years.