From what I've learned over the weekend from David Green, you need to do a cash-out refinance, at 90% LTV.Because interests are so low historically this could be better than a HELOC.The way how I am getting started is by creating an LLC first, precisely because of what you stated in your introduction, I don't want to drag my personal business with my personal finances.

You should always try to be precise in underwriting and let the returns of the deal and your confidence in your underwriting guide you. 

Get a more precise number on rehab, and if you can negotiate purchase price down to give you more room.

My capex is just an estimate on the remaining life of several items, some are just replaced, it's not precise but should be conservative.As you can see, this doesn't cashflow nor this is a good location.

This is precisely the reason I would like to build my portfolio around this community.  

@Alex Forest I want to upvote this one a thousand this is precisely the type of information I knew was out there I just needed somebody with a little more experience and how to craft my response to my realtor thank you.

I’m just gathering this info in oder for my wife and I to have a precise plan of action once we return to good ole Deutschland.

There are some complications to doing business far away from where you live.Here are some basic elements that you will want to establish before you fully commit to the investing of real estate out of your state:First , you will want to make sure you have a clear and precise target property.

Try Advanced Surveying or Precision Surveyors. 

This isn't precise, but it gives a good overview of where our money comes from and where it goes on a monthly basis.You could update monthly but personally I think 1-2 times a years is sufficient.