Did the insurance get cancelled in this case. 

Assuming 7.5% interest rate, the negative leverage would require you to put way more than 20% down just to break even.  

Let me know if you need any tips on working with contractors or setting expectations.

@Damini Dutta I would definitely put some time and effort into finding out more about this company. 

A HELOC comes with a variable interest rate and all signs are pointing to no further Fed rate cuts in 2025 - and there may even be rate increases.- So, you may want to consider locking in an interest rate via a 2nd mortgage.Do you have reserves for unexpected expenses?

I have docs etc if you are interested in verification and proof that I have dealt with that company.

They are asking me to call them… see message below:“We are very interested in your property and would like more information, particularly about the proximity of the amenities to the location.

@Tarun Kumar there are 3 main types of real estate investing:1) Wholesaling2) Fix & Flip3) LandlordingWhich one are you interested in?

Wish you the best of luck along the way and great to see so many of you interested in Southwest Florida!