However, if that effort fails, the local agent is equally liable – criminally and civilly – for any fees, fines, etc. associated with the property." 

I like that lawn and snow removal is taken care of in an association, but dislike that expense each month. 

Of course, that is only if your intent is to hold it long term.If your goal is to unburden yourself from managing the property yourself, you do have options that offer degrees of hands free management. 

Cost of Borrowing: Compare the interest rates and fees associated with a HELOC or cash-out refinance to the hard money loans you’ve been using.

Hail is the big culprit, tornadoes to a lesser degree. 

It is also important to consider the transactional fees associated with originating the HELOC, whether an appraisal is required etc.

HELOCs are usually variable rate and there may be yearly fees associated with maintaining the HELOC.

Wish you the best.If I was you, first step is evaluating costs associated with doing MTR and comparing with potential rental income to see if it makes sense to do LTR or MTR.

The first the guru did have 2-3 phone calls with me before turning me over to associates.

Let’s look at the math.Pre-Covid, the National Apartment Association (NAA) released data showing that the average renewal costs between $5,000-$10,000 per unit.