If there’s specific projects like electrical we get a project specific estimate after we put it under contract prior to the earnest money going hard.

It would be a tight budget but I do have money set aside for repairs.

Unless you are using your own money, then you shouldn't have a problem, however, if you are enlisting an investor or a lending company, and there are plenty to choose from, don't go with the ones who do the lowest interest.

one thing is your lending your money way under what private money should charge. unless your just doing your friends a favor..

Personally, If I could pull out a HELOC, I would use it to fix and flip which will typically make sense as you shouldnt be keeping the money out for that long and you can recycle it or pay it back and build off the capital that you got from. the flip.

.: In a prior post from about 2 months ago, Kerry Malarkey and Nathan Gesner mentioned a small landlord is exempt from FHA requirements requiring the acceptance of emotional support & assistance animals if one of the following is true:"Owner-occupied buildings Properties with four units or fewer that are owned and lived in by the ownerSingle-family homes Homes that are sold or rented without a broker by the owner, as long as the owner doesn't own more than three at once" (Quote from Nathan's reply))https://www.biggerpockets.com/forums/52/topics/1219359-pitbu...Given this, if a landlord does qualify for the exemption, what exactly does this mean? 

You don't have to do anything with the money and there's no time limits or anything.2.

Maybe they don't need the money now but in 5 years they wan to send a grand child to college.

Their ability to recover their money should you default is much lower in this position.

The only exception might be if you plan to and if your market supports short term rentals.