My question is liquid I’m kind of strapped right now but I do have a lot of equity in this Brooklyn property , do you guys think I should see about maybe a heloc on the property to fund this deal or maybe look for a non traditional lender .

The only reason I would not do it is if I was took strapped for cash at the moment and had my Heloc maxing out or the market didnt recognize it and you were planning on selling before the break even point.  

Everyone else on your team will be transaction-based and not really involved after a purchase.We're in the Metro Detroit area, so you may want to follow our blog here on BP, but at least read the following posts:How to “Screen a PMC Better than a Tenant”: https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesIn our experience you will need to:1) Learn to "Maintain to the Neighborhood", not your personal standards2) Tenant-Proof everything you can Hard surface flooring, not carpeting (too easy to trash) Same basic paint for everything No garbage disposals for them to break Only spring-type doorstops also with plate on the wall Glue rubber mats under sinks to prevent water damage Sheet aluminum on walls around stovetops, for easy grease removal Towel racks - screw 1x3 to wall studs, then screw rack to that Install low-profile downspout ext, not aluminum that always disappear Plan on cleaning gutters and leaves up in the fall as tenants won't Avoid garage door openers3) Have a great application screening process: Check credit for evictions & convictions, utility collections Focus on employment/income stability Require bank or debit card statement - you'll be surprised what they spend their money on!

Everyone else on your team will be transaction-based and not really involved after a purchase.We're in the Metro Detroit area, so you may want to follow our blog here on BP, but at least read the following posts:How to “Screen a PMC Better than a Tenant”: https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesIn our experience you will need to:1) Learn to "Maintain to the Neighborhood", not your personal standards2) Tenant-Proof everything you can Hard surface flooring, not carpeting (too easy to trash) Same basic paint for everything No garbage disposals for them to break Only spring-type doorstops also with plate on the wall Glue rubber mats under sinks to prevent water damage Sheet aluminum on walls around stovetops, for easy grease removal Towel racks - screw 1x3 to wall studs, then screw rack to that Install low-profile downspout ext, not aluminum that always disappear Plan on cleaning gutters and leaves up in the fall as tenants won't Avoid garage door openers3) Have a great application screening process: Check credit for evictions & convictions, utility collections Focus on employment/income stability Require bank or debit card statement - you'll be surprised what they spend their money on!

I do agree I would be strapped with my $$ inside the house for at least 10 years but if the house appreciates to 700-800k and we sell then, I can get my money back + some and father would have a hefty retirement from the selling as well.

To be clear, they actually TRY to rent to folks who are financially strapped, economically under great pressure.

Tip: ratchet strap a 2x4 running cross-wise too tank, bracing into supported wall in direction tank would turn.

I looked at the laundry mat niche and its pretty sophisticated these days with set up being 500 to 1.5 million so pretty major expense..

Town must be strapped in order to "give" land away.

Something occurred to me today - I have spent virtually my entire working life in fields that you're going to hear all kinds of sob stories, and that if you don't have a backbone you're going to be a door mat in a hurry: public utilities, college professor, real estate rental property owner/manager.