@Kyara Schroeder a HELOC had an annual percentage yield which is divided monthly based on the principle balance.Typically, the min monthly payment on an active HELOC is just the interest, not the principle.

@Stephen Diaz find someone experienced, and bring them deals and money for a percentage of the GP side.

What percentage do you think commercial lenders are going to be looking for?

Scott shall not be considered active under the following circumstances: unemployed while seeking gainful employment, on disability from full time employment, retired from government employment, or other circumstances out of control and atypical to choosing to pursue his housing business endeavors as his sole source of primary income. 1.Should Scott choose to “actively” engage in housing as his source of employment as defined above, Scott agrees to give 25% (twenty five percent) of his net profits accrued from his active efforts during the period of marriage to wife in the case of a divorce.2.Payment of such percentage of funds shall be payable over 120 equal monthly payments, or equivalent to no greater than 10% of Scott’s New York State Adjusted Gross Income, verified annually with payments adjusted the 1st of November each year, whichever is less, to ensure no undue hardship to Scott or the business will be endured.

Percentages?

You might also want to keep an eye out for certain cities that have planned large improvements such as new schools and stadiums as they will spike up the tax rate in a higher percentage than typical.

Many times, they will tell you they will do a loan to a certain percentage (first time renovators are generally at 80% of the purchase price and 100% of the renovation) and the loan cannot exceed 65-75% of the after repair value or ARV. 

Question 3: As a newbie, I know it can be subjective to one's goals to a fault, but if a general percentage could be given, what's a good ROI to aim for when investing in your first property?

This encourages them to pay the last month of rent and leave house clean so that they get their large deposit back.If they get behind or break the lease, this extra helps offset what they owe plus any damage or cleaning you have to take care of.It is a small percentage of the time that someone turns in a 30 day notice and leaves the place clean and undamaged to get their deposit back.

I ran the numbers several different ways and came up with a percentage between 40 and 50% DTI.