Only you know all of the details of your situation.

I would also suggest finding a 100% LTC (loan to cost) lender that will fund all of your rehab and all of your purchase.

If used for less than 14 days or 10% of rental days, it is considered a rental property, and all income/expenses are reported on Schedule E.

Verifying last 2-years of rental history and income/employment extremely important to find the “best of the worst”.Tenant Default: 20-30% probability of eviction or early lease termination.Section 8: Class D rents meet program requirements, often challenges to pass Section 8 inspection.Vacancies: 20%+, depending on market conditions and tenant screening.Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciation.Where did we get our FICO credit score information from?

TIA all! 

Then check off all the things you need to do to buy a property and get them done (get preapproved, find an agent, contractor, etc.) 

In these cases, the mortgage remains in the name of the investor; however, the LLC typically handles all mortgage payments moving forward. 

The heloc requirements will vary by lender as these are mostly done by banks using depositor funds - they will all have slightly different requirements and will not follow conforming loan guidelines.The LTVs for R/T and cashout refi's will be based on the new appraisal completed during the loan underwriting for the new loan.

Even before only every 5th deal or so would truly allow to recycle all cash and generate 25% equity. 

My 14 year old now makes over $100/month passive income from her % owned and my 10 year old is at like $65/month.In this process we are building their interest in real estate, teaching them the value of putting their money to work for them, and all the while growing our investment if we need it for their college money some day!