Good enough for a rehab but not quite for a purchase.We’re looking to get into “Fix and Flip” to increase capital and maybe BRRR it if the numbers make sense, but our ultimate goal eventually is to Buy and Hold.

To answer your question, I plan to make RE investing a part of my current portfolio for diversification purposes (other than my primary residence of course) and I'd ultimately like this to be a replacement an alternative to my regular work.

HELOCS are a portfolio product that a Big Box Bank (bbb) would offer where they would lend their own money as opposed to a MORTGAGE product where they can package, sell off the note and ultimately wipe their hands clean of any future possible risk.

ask for more - money back at settlement - guarantees to survive settlement, all chattels in buildingsadd commercial real estate to your wish list of opporltunitesif you become discourage and frustrated - go flip a few junk houses for practice and cash flowattend auctions - watch the activity closely - meet your competition - collect cards - build a buyers listdo something every day related to your personal real estate and financial goals DON'T GIVE UP!

Ultimately, it's up to you to decide if you want to take the check that the insurance company is willing to write and be done vs. restoring the property.

My ultimate goal is to own enough small multi-unit properties to 1031 exchange for a single 100+ unit apartment building complex. 

Our ultimate goal is to be able to comfortably retire (if we want) in our mid to late 40s.

@Shawn Evans I am unfamiliar with those particular lenders (that isn't necessarily a negative; there are a lot of lenders out there) - the only thing to be careful with is that many lenders with so-called "down payment programs" have exorbitant closing costs, so ultimately you're paying the down payment anyway.

Junior liens, junior judgments and code violations if they are named/served, get wiped.Some state liens May survive, not sure about which.

Only the strongest and most experienced survives.