The ability to generate more income for simply the cost of a building is another huge cost saving over buying an expensive commercial lot and developing it.

I will have to have money lined up somehow to pay him.

My favorite way is is simply using Pricelabs using a comp set, OR using Airbnb itself to see what your direct competition is.

AS Much as anything most folks in RE in that area simply rely  totally on them ..

Simply need the cash.

Then invest the $10k in something that pays more than the interest you’re paying on the HELOC.  

Quote from @Ian Ippolito: Quote from @Michael Plaks: Quote from @Ian Ippolito: Quote from @Rud Sev: 3) Unless you're doing a 1031 exchange  at the end or similar tax structure to defer taxes, you will have to *pay back* all that depreciation benefit at the end (on sale...which for you is in 5 years)  via depreciation recapture.

Depending on the market your looking to work in.one way I find is to simply call one of the major title companies and ask to talk to an escrow officer and then ask them what companies does he/she see closing private loans in their market..

Granted new construction probably won't appreciate as much and you'll pay a slight premium for the property.  

My first MF I represented the buyer on I made 100k. for maybe a weeks worth of work. 3. if your going to be looking a more resi style duplex 4 plex a lot of those get listed and having access to the MLS is far superior to any other on line listing service ONE simply because you will be able to talk to the actual LIsting agent not someone paying for leads.And then of course having access to MLS lock box's and not relying on agents.. this is huge.Now if your maybe going to buy one property sometime in the future and you have no interest in learning the RE laws of your state or making any money with transactional real estate then sure.. its a pass.. although I would still recommend the pre license course so you learn the basics  the vocabulary and states unique laws.. knowledge is power in RE.