How does this sound:      ??

Does that sound like a guy who knew what he was signing?

Does that sound good?

Horrible idea for many reasons...1) Without a decent down payment ~20%, it's very unlikely you'll cashflow after all expenses 2) Sounds like this would be a highly leveraged property - high leverage when rates are high is a dangerous game to play.

If you feel like the carpets are really worn, I'd replace that.  

The cost of an water heater replacement for example is close to the same regardless of price range of rent or property value.

I didn't do the coaching program but it sounds legit, just expensive up front. 

I am looking at replacing my current HELOC with a new one with the lowest intro rates. 

The exterior was painted when we bought it, we refinished the floors, added carpet, new paint inside, refinished the kitchen cabinets, replaced a couple windows and did some minor plumbing work inside (along with getting rid of TONS of junk throughout the inside and outside of the home!)

It's one of the shadiest parts of real estate and everything you said in the other forum post made it sound like you wanted other people to partner with on every deal.