I would take no more than 65% thus your current property should cashflow, give you a new write-off on the interest for taxes, and use the refi cash to put towards another deal.Best of luck 

This was my first IRS audit in over 50 years of returns and I want no more of them. 

From the dawn of time, it's been changing and we have been adapting.To take some point between then and now and hope we get back there is like thinking because we have had no more aircraft hit our tall buildings, that TSA will soon disband and we can again bring box cutters in out carry-on luggage!

You will typically pay 4-5 % or points for hard money closing costs, so another $8-$10,000.00 in purchase closing costs, and you tell us the rehab is projected at another $9000.00 so in total, you will use $56-$58,0000.00 from your HELOC to complete the deal.When the rehab is done, you will then refinance into a Fannie Mae or Freddie Mac loan at up to 75% no cash out, meaning no more than $2000.00 cash in hand.

Don't rush, be conservative, use no more than 20% of your nest egg for TLI. 

No more making excuses or being afraid.

No more smell.

It seems to me that I'm not gaining or losing value, aka insurance is giving me only what I've lost in value because of the mistake, no more.

My concern is for my first project I planned to purchase a rehab of no more than $50k with a rehab budget no greater than $30k; this potential i'm guessing is $150k purchase and $40k rehab with a ARV of $290k - $300k.

Reduced security deposit of no more than 50% of a month's rent.I see the writing on the wall and am already heading this direction.