For this type of asset you're looking at the NOI, and calculating that is incredibly important. 

The average time to flip a home is 6 months --again averages, but with a solid network and referral partner you can find incredible deals that are far less price than $250k (like $70 - $90k) and average profit potentials over double from the 20% average example, pending on extra hands provided for your daily research.

I am in Grand Forks for work at the moment and will be here a few months.

I have about $250k saved at the moment.

I was told today they have a Facebook Group - on a call with them, with someone with an incredibly challenging accent.   

@Shayna HatcherHear me out for a moment.

Using it like long-term debt can be bad for your financial health.First, the HELOC impacts your DTI the moment is created, not the moment you draw down on it. 

For the moment being able to remove stress is the priority.

It's incredible how truly just 1 block over, a house is $50k and then the next street is filled with $85k properties.

Not super interested in STRs at the moment, since I think I would have a hard time keeping up with the management.