It's been steadily going up however, so I'm either looking for lenders who would do a HELOC once my credit score reaches the required number OR I'm also seeking private lender who would be willing to lend with a second position lien on the property for the renovation amount ($35k-$40k)I was working with a private lender but he proved to be unprofessional and not able to prepare the proper, legal documents.

Be prepared for lot of negotiation between insurance and you and your claim adjuster.

However, I have to agree with Tatum on a couple things... the turnover is something you have to be prepared to deal with.

If you do be prepared to have a rate of 9.50% or higher which in most cases would be a higher payment than if you simply refinanced and lost the 2% rate.You may also have road blocks with a HELOC that a cash out refinance would not have due to cash in hand and one loan. 

However, this means forfeiting the potential future appreciation of your current property and could entail a time-consuming process of finding suitable replacement properties.

I recommend you take it seriously, keep your head on a swivel, and be prepared to defend yourself.4.

Both are going to be extremely beneficial, but with less experience in the Multifamily space there might be more topics that you would find interesting to help prepare you when starting to invest in a larger multifamily. 

The collective wisdom, experiences, and strategies we share are crucial as we navigate collectively towards a flourishing future.In ConclusionThough the prevailing economic weather is fraught with obstacles, it also lays bare opportunities for those prepared to adapt and engage in deep analysis.

I only pay her the months rent when she finds me a new tenant and prepares the unit to rent again.

Bonus depreciation may sound good -- "oh, I can offset it against my W2 income and not have to pay tax", but in reality, it is just another way for the tax professionals to get more business by charging you for doing the cost seg as well as preparing an ever-increasingly complicated tax return.