Assuming you have done those, understand the area and the demographic and hopefully have some idea of the financials for the property, then you need to underwrite the deal.  

My husband still works, and he has a consulting business, so for now we are ok, not great but not yet dire, he works 100% remote so only if it makes financial sense moving OOS to fulfill next step to get to financial freedom- it is an option . current picture. 

If you have two or more members of the LLC you'll file a business return and then have those financial flow over to your personal return via K-1.

Here is the pro forma financials for the property……………they assume 150% occupancy and a 150% rent increase 9.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

I would discuss financials on this if you choose to come see the pre-rehab on Dec 1 (I have made a lot of money (close to 7 digits after this rehab is done in ~2 months) but due to not executing a cash out refi (due to the rate increases) my return is below my underwriting).

If this was a safe bankBaselane is a financial technology company, not a bank.

They are either going to be financially strapped or leave the area, or both.

@Michelle SharkoAnswering questions in step by step fashion:- Is it a good thing to do or not is a personal finance decision and it depends on the person asking it, their risk tolerance which in part has to do with how this HELOC or line of credit works and how your personality fares relative to taking on new debt (a person more adverse to debt might have sufficient savings and temperament to pay down/back the debt versus a financially liberal person might get in over their skii's as).

But definitely needs some financial education.