Where equity exists, the thought occurred to me that a HELOC against each property could be beneficial to lessen the impact of paying unplanned costs.Thoughts?

But my experience had been on the first year, you have many unplanned for expenses that pop up, so forget the cash flow, just deductions against the W2.

This is the first time in 10 years that I've had an unplanned expense like that, but lesson learned!

Hopefully with some good advice I will succeed in this unplanned venture.

This is because the current landlord might say anything to get rid of them, so you are more likely to get accurate information from someone who doesn't have a vested interest in just getting rid of an unwanted tenant.Also, an unplanned visit to the current address might yield some valuable insight into how they treat the property.

What I was really after is am I missing any line item that could swing the cashflow the other way (aside from a sinkhole or something crazy unplanned).Can you message me?

How much do you have in reserves for unplanned expenses (e.g. a water heater or roof replacement, pipe break, vacancy, etc.)?

Even with the steep discount, your investment will be effected by the HOA policies and unplanned community expense.I hope my response helped you sort through your thought.

Hold Capital Reserves:Where you can be as preventative and proactive as you want, if you are going to invest in real estate and own rental properties, you will always need reserves to account for planned and unexpected repairs alike (in addition to planned and unplanned vacancies).

The Pensacola area was a very unplanned city so getting between the more popular leisure/entertainment highlights of town (Downtown, Perdido Key, or Pensacola Beach being your big three) can be a solid 30 minute drive.