Getting $3,000 more in debt for a fancy BBQ is a dumb idea, but not because of the credit inquiry (though, again, that's what the boomers were told & they passed that 'wisdom' onto their children).The closest to this that I've successfully executed: Cash out refinance for $600k on the primary residence with the proceeds to be used to purchase commercial real estate that she was already in escrow for prior to applying for the cash out refinance.

Your idea is good, just need to iron a few wrinkles first.Let me know if you have any questions.Regards,Joe Scorese

Ironically, I also listened to one of the latest episodes of R.Kyosaksi's Rich Dad Radio Show podcast (11/21/16 episode) where James Richards talks about currency wars and his prediction of a more global economic crash expected to hit in the next 2-3 years (much larger crash than that of 2008).

HOAs read the fine print and read again 2 to 3x times a few common things to look out for with condos in general:*Are you allowed to rent it out right away in some cases they prevent for a duration of time*How are repairs handled*The HOA is it run with the feel of a community or like an iron fist dictatorship*HOA fees have they been relatively stable or consistently climbing*Any sign of new construction that could compete with your investment*Any new business development in the works say a strip mall etc that could drive up demand for your potential unit post purchaseThe deciding factor is what you are comfortable with after all the facts are laid out.

While it doesn't apply across the board, many lenders will shy away from deals sub $40-$50k range, so it's worth your time to iron out those details on the front end.  

I do find it Ironic.. here on BP you have all these people that just jump up and down about how not to spend a dime on any paid for mentoring or of course a TV Guru.. but they will go out and blow what cash they have and or run up credit cards trying to be a wholesaler  and at the end of the day they get less education than if they paid for a mentor and the burn out rate I suspect is over 95% .. and whatever cash they had is gone and now they are in credit card debt..  

It can be mattress mayhem, but sometimes it is just the working class, joe six pack crowd that may not fit the high end apt demographic; they may be the change your own oil(or transmission) in the parking lot crowd, or  need a backyard for dog or pit bbq..etc... 

I've worked with Iron Bridge Lending from Portland, Or and they were great to work with, I'd definitely recommend them. 

I think I will probably go the route of buying an iron cast Kohler Villager tub and using a cheap matching fiberglass surround that I could later replace easily if I wanted/needed.

Which is ironic as I am at the start up ( Kitchen table for the moment is the office ) part of a business.