But most importantly, they do not need to be paid back.Funding Sources:Local Government/MunicipalitiesState GovernmentPrivate FoundationsFederal GovernmentFamily OfficesCorporationsWhen applying for a grant, ensure you have an understanding of the details such as eligibility, your project readiness, the purpose, funding amount, areas of funding, limitations and deadlines for the application.The prime candidates for a grant are 1) those developing a real estate project or physical space, 2) scaled non-profits and 3) certified non-minority owned businesses.Ensure you are able to provide the following documents before applying for the grant:Show site control through documentationA project description or business planConceptual drawings or renderings of the physical spaceProfessionally prepared budgets for the company and projectWhat does the grant application process look like?

If the legal balance is already at 60% LTV for example, would a seller expect a higher amount than the legal balance possibly?

Seeing that amount in your bank account for the first time can be overwhelming and exciting, especially for a 20 year-old without much money (making an assumption here).  

A Heloc is nice if you want to use a small amount and then have a small payment but a Heloc is meant for small projects and maintenance.

Also definitely do a good amount of research about rental laws in Colorado and make sure whatever lease you get a hold of is up to date with those laws.

Biggest thing would be to confirm the loan amounts and if they will lend to that particular area (being keen to make sure its not rural).

Most DSCR lenders will want to see a minimum property value of $75k and minimum loan amount of $55k  

This reserve amount represents roughly 2–3 years of projected repair costs, which might be a conservative approach, but it gives us a buffer for unexpected, high cost repairs when they pop up.With a larger portfolio, the reserve pool wouldn’t need to grow proportionally, as funds and repairs can be balanced across properties, allowing costs to offset each other over time.

Drawing with one plumbing line for all 8 units and drawing a more efficient separate water lines to each unit is the same amount of work for him, just the former being wasteful for the long future as a landlord.

It's not going to bring in massive amounts of money, but for bringing in some income with very minimal efforts, structures needed, or upkeep, it's great.