We want to preserve our current tenants.

Assess your resources - time, skill, expertise, ability, and interest - in light of your goal (growth v. preservation). 

Some fizzled out, and I found myself working hard to try to break even to preserve my sense of self-respect. 

The Dave Ramsey in me is telling me to pay for everything with cash including the down payment and the rehab, the Robert Kiyosaki in me is telling me to use an interest only HELOC that I have to pay for the for the rehab, and maybe even a part of the down payment just to preserve my cash.

It is the best way to preserve your cash.

Account ClosedHi again Eric, I challenge you to educate yourself about economics, how free markets work and most of all how free markets/capitalism provides greater opportunity, helps preserve individual freedom and produces more prosperity for all.

, what the loan type was (Better hope its not an equity line), what the original terms were (Better hope it wasn't modified), whether there was any previous default, any capitalized interest, any change in terms, any forbearance, deferred fees, property inspection/preservation costs, and so on and no, none of that is public and so no, nothing can be modeled in any calculation assumption for all of those variables so it's all a guess and while some of these entities do a good job of guessing and making their assumptions, still, at the end of the day, it's all a guess until the NOD gets filed and after that, it's all public and free and the whole world knows and even then, it changes daily and you don't get any updated information until  the NOTS or judgment and by that time, too late.

Rehab/Remodel: 50k.The question at its core is would you rather spend your own capital on the remodel, or would you rather just buy an already remodeled house, preserving your own capital, and use that capital to invest elsewhere?

@Matt NicoI own 3 homes at Lake Wilson Preserve, where are you?

Read up on the BRRR strategy to preserve your capital.