Man, just in 3 years if you have the tenant leave every time, even without the negative cashflow, that alone can cost you an additional 20 or 30k.

Might be an additional cost there.If units are updated, capex items look good, leases and tenants look solid, and there are no other regular expenses besides the 5200 in insurance/property taxes then I like this deal.  

What benefits does it have over other lead lists? 

In addition to being my mentor, Chris had been asked to take the class on a “funding tour”.

An emergency fund needs to be liquid, and immediately available to you in addition to being low risk and protecting principle. 

If you used a loan to rehab your property and find yourself in a difficult position, doing a straight refi (just paying off the old mortgage) will be easier than trying to pay off the original loan and take additional cash out.

The plan is to use the heloc to purchase additional properties, and basically brrrr and pay back the balance - then repeat.What I didn't realize is how difficult it is to find a business heloc.  

With some additions, this would qualify for the OMG category, but I think they didn't have that category back then when it was on the market.

So it sounds like me you built additional equity into the home your living in now.

And the passive loss rules may prevent you from getting a tax benefit if your rental deductions are more than your rental income for all of these options.David OrrTax Modern