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?

All this adds up so some serious deductions.

Your biggest challanges:1) Figuring out how to advertise on Zillow2) Handling all the calls3) Scheduling showings - and getting stood up4) Finding a rental application to use - you can use Zillow's or easily Google for one.5) Figuring out how to screen applicants ***** This is IMPORTANT!

Use the money only to stabilize assets and yourself.

Materials have increased more than 20% in the last 5-8 years.

Bigger renovations like this aren’t our strength.

If you want to get into real estate investing, consider REI Nation.

I wonder whether expert can confirm this?

Make sure to communicate your BRRRR strategy with your insurance agent so they can recommend the right coverage for each phase.I learned this lesson the hard way: https://www.biggerpockets.com/forums/853/topics/1222933-my-b...

I use a point system for screening; applicants get positive points for positive aspects, lose points for negative aspects, and I have a point threshold for each property.