And will you have ongoing maintenance issues beyond your CapEx based on the building's age.I personally would be suspect of this deal.

I leveraged my owned land to build my personal home.

The area’s limited number of apartment buildings means that many renters prefer single-family properties, creating steady demand for these homes.Having assisted numerous buyers in Little Rock, I’ve seen firsthand the opportunities this market offers.

Of course you have to factor in realtor and closing costs on top.

Today, I used those proceeds to purchase a 5-unit commercial retail building without coming out of pocket at all.

If you have the sellers, the buyers will start reaching out - it likely wont work for some of them and then you can ask what they are looking for and build relationships that way.

I’ve done a couple of fix and flips but I’m looking to build a rental portfolio.

I'd estimate your cash flow after you pay the loan payment would be $600-$800, which a lender that understands investment real estate should give you some credit for on your DTI.As for a bank, I have a specific lender at NBI that I would recommend.That 600-800 you are factoring in the HELOC repayment each month too, correct?  

Hi David, If building long-term equity and scaling quickly are priorities, then option 2 aligns better for you. 

It never occurred to me that I’d have to make the drive to this building for 2 months.