My client bought a 22 unit building and used this strategy and walked out of closing with a check for $800k to perform the rest of the renovations, paid himself back his already expended rehab costs and his entire down payment.  

There are a bunch of ways to do this depending on the property type, usage, and you (income and credit scores).If this is a primary residence, you can get up to 90% of the value of your home minus any exisitng debt. 

So after 5 months you:a. taken a LOC of $10k but repaid it with $8k of cash and $2k of the invested money.SO AT THAT STAGE: You are $8,000 out of pocket - Correct?

This would likely take coordination with a tenant at some point - (ie - plenty of notice to them that they must vacate in order for you to sell the property)Since your current home is free and clear -  you could do a cash out refi or take out a new mortgage on the new house to be able to buy your paren't house and pay off the mortgage.  

Rental demand in our market is off-the-chart; the shortage of properties continues to hit historical lows year-over-year.

Basically, flip partnerships suck unless you spend a long time being clear about the roles and payouts, etc.

Some months I’ve unfortunately had to pay like $150 out of pocket but I’m Planning on holding long term wise and the let the rental bare fruit later in my life because I’m only 22 and just wanted a base hit or a rental in a great neighborhood.

Worrying everyday about getting fired for something out of your control?

Hi, has anyone applied for a business line of credit with American Express? 

She refuses to pay rent and says she cant be out until April.