With $50k, you might be able to get started using an FHA loan, which typically requires a lower down payment, as long as you’re planning to occupy the property.

Rates are typically higher than a traditional cash out refinance, however at least you are not getting the full loan amount + you have the flexibility to draw/tap in the money whenever needed.

A french drain typically costs around $25-$30 per linear foot.

I know many successful investors that utilize it and some have higher-end properties in areas like Maitland.

Typically you end up putting in a new meter socket, new panels and the new service. 

Does the 60% the condo-hotel takes include the HOA fees or utilities or replacement of furniture/repairs to the unit like plumbing or stuff like towels and sheets etc?

How is this typically handled? 

Not always true, however typically HELOCs will go to a max loan to value ratio of 85, sometimes 90%.

However it is typical to allow the lawyer representing the lienholder (lender) to make an unofficial bid referred to as the "upset price".

@Mike TikhRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?