Rules of thumb are a very lazy way to do business.You can build a generic pro forma and plug every applicable number in, take five minutes, and come up with a reliable look at your future CoC, CoC including principal repayment, IRR, etc.Build your pro forma to reflect the base case and then the pro forma case.

I believe in taking Massive Imperfect Action but that does not mean to take Massive Uneducated Imperfect Action.Here are some ways to acquire the educationDigital Media (Podcast/Youtube/FBLive), again don't fall victim to sales pitches. 

Also, unless you feel comfortable and confident in taking out all your HELOC I'd recommend saving some for a rainy day until you have a few properties that are cash flowing to give you a cushion. 20% down should be enough to get you into a good 1st property.

For small complexes, they will come out with smaller amounts, but it is an incentive for you to resign and you keep this and next owner is stuck with the lease in place just like you are stuck in taking it over.

So...on this project specifically, it’s been a bit of a mess that will ultimately result in taking a not so insignificant financial loss.

Graduated moved and with about $300 in cash in a sock and some savings in the bank bought a home at the new town I got a job in.  Taking

This sounds like a great opportunity and I will certainly reach out to you once I am at that stage in taking a step forward.

If my kids show interest in taking over I would let them do that while I still take the income.

@Ben Staples, the venting requirement is different as the newer boilers will need a fresh air intake as well as the exhaust. 

When your next tenant moves in, take 100+ photos of everything and list any damage/ stains that you didn't fix on an addendum for the new tenant to sign acknowledging the condition.