If you have access to some money you can increase your equity in one jump.

Yes, you can do DSCR to get your money back.

I’ve heard a lot about BRRRR, fix-and-flip, and rental properties, but I’m curious about what’s working for you all right now.I know from talking to people that some have gotten into bad deals while using their own money, and I’m worried that using bank funding and ending up in a bad deal could make things even worse—not just for the investment but for the relationship with the bank as well.I’m just trying to make sure my clients use this funding in the right way, without getting themselves into a tough spot.

So $460K-$350K = $110K, it is almost the same as the money I put into this propety. ($42K+$75.6K)=$117K.

If it keeps getting out of hand then I would then send a notice to quit to the troubling tenant. 

The money will follow that.

This will save me much more money eventually than the cost of the bookkeeper.  

It normally doesn't cost you any money to open and to be able to access that large amount of equity to buy or stabalize your current portfolio allows you so much more opportunity costs.For instance, I took a $200K LOC out on my primary residence when I first started in real estate.

While I do not have an official W-2 currently, I do have a steady income, great credit, and have money saved as well from working since I was 13 years old.I relate to Ian Kay in his journey but also am very determined to make my goals/dreams a reality this year by July 2025.

Why not joint venture with someone who has money, fix & flip itWhy not rent it out for at least the monthly carrying costs.Why not sell it on a lease option, get 10% cash up front to fund school?