Hello,Thank you everyone for the input.Please correct me if I am wrong I will use the 200k, 80% to pay back the Heloc loan (165k) plus 30k in repairs and renovations, a total of 195k, minus closing cost.My question is where do the $50k , the 20% goes to?

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

@Ofir R. we've helped several in the past from Germany - usually trying to save their portfolios after they dealt with the wrong "experts" and made bad decisions.Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

There are so many things that can go wrong that have nothing to do with you.

No wrong answers, just curious.

I know that you can't say you won't accept vouchers in states where source of income is protected, but can't you just explain that you said it the wrong way, not intending to discriminate, but it's actually just the home you live in and you know it won't meet Section 8 requirements? 

Could always be wrong! 

Am I wrong ?  

Be prepared with the mentality that anything that can go wrong will go wrong.

Hi everyone, I don't post here often so apologies if this is in the wrong spot.