If a tenant (friend) needed to move, I wouldn’t want to be in a bad situation financially.

At one point I talked to my financially advisor and he said that it would be smart for me to open a HELOC on the property, but not draw from it, except in the case of emergencies.  

@John LasherI don't know your exact situation. 

There’d need to be a lot of rehab work/managing that would require you to put in that many hours.From a financial perspective, it seems like the highest leverage way to keep buying more properties is leveraging your W-2’s and then being work optional.

In most situations, the more profitable a property is, the higher percentage the GP is paid.

Thank you for the financial breakdown!

That truly determines the successful from the unsuccessful, making it happen despite all the odds against you.I have a similar story of finding real estate and achieving financial freedom over the course of 4 years, going from 0 to over 300 doors.

Hi @Leah Miller,That’s a frustrating situation, and unfortunately, it’s not uncommon.

While we here on BiggerPockets certainly have financial goals in mind, local populations all over the world have an opposite and opposing one. 

What should I pay attention to if i was to get a property in this situation through an auction?