Quote from @Mario MoralesMorales: what if he got a HELOC, used the funds to get a property, then cashout-refi the new property and pay off the heloc?

Hi Shyam Sridharan I would recommend to get a contractor to make all the changes.

Everything my sons and I look at seem to be just a sales pitch to get you to join a team or invest with no control on the process or the outcome.

How'd you get $500k at 23?

FHA 203(k) loans are a great way to get into a property, add value, and set yourself up for strong equity when you eventually rent it out.Biggest things to watch out for:1.Contractors & Timeline – The loan requires HUD-approved contractors, and the rehab process can take longer than expected.

selling notes do not have to get permission from the payor on the note to be legal nor do they have to notify but its common to notify so you know where to send your payment.

This is my personal opinion, which probably won't be popular.If you are worried about the cost of hiring an attorney to create a proper operating agreement for your LLC, you probably don't need an LLC, and if you choose to use an online site to create an LLC, you probably get the protection you paid for.

I Can only realistically get $1600-$1700 a month renting my house based on the market.

Hello,I'm from Canada and looking to get into the US real estate market.

Consider getting some genuine coaching to jump the learning curve.