From a leaky roof to a backyard jungle, it was a crash course in problem-solving and patience.I bought it for $145,000, powered through the chaos with a hard money loan, and sold it for $180,000.

You could always get lucky and the bank may never call in your loan.

The advice I have received is that HELOC’s should be used for short term loans only with a definite plan to pay it off. 

Private mortgage insurance i believe is not charged on va loans.  

No back payments due, but there is a HUD loan for $7k from a previous forbearance.

They are mocking these up with interest only loans and factoring back in the tax deduction as if you qualified for the tax benefits of a real estate professional and factoring in the diminished first year property tax (since its not a full year).

Further, the property may qualify for larger loans based on the increased cash flow ability to service debt.  

@Drew Sygit Cool thanks I'll look into DSR loans! 

You can probably just go ahead and live in that 5th unit, but I believe whenever you go to refinance it with a bank or what not, the 5th unit will make it require a commercial loan and not residential regardless of what the county records show the property to be. 

If you’re not paying cash for properties, get pre-approved for an investor loan to understand your available credit.Time FrameThe shorter your timeline to achieve your goal, the more upfront capital and credit you’ll need.End GoalMost investing goals focus on replacing their current income, like $5,000/Mo.