Say it takes 6 months to complete the rehab, I would estimate $1000/ month to be safe, so add that to your costs. 2 is the mortgage balance isnt a factor, it's the purchase price that matters.

The benefits for tenants is often out balanced by the disadvantages for the owner.

that will be the biggest ding on your credit score, is keeping any kind of balance on the cards, the higher the balance, the bigger the ding.  

After a year remaining balance $250k.

The amount I can take at any given time is $50k minus the highest loan balance I had during the last year. 

Sometimes depending on the county and type of auction you may only need to come up with 5-10% the day of and the balance a few weeks later.

Does it make sense to try and consolidate the CC / HELOC down so my CC's don't have maxed out balances and it will raise my CC score. 2.

Does it make sense to try and consolidate the CC / HELOC down so my CC's don't have maxed out balances and it will raise my CC score. 2.  

@Kole KingslienA SMLLC that is taxed as a disregarded entity should not be running payroll for its owner.If your dad wants to take money out of the business he should do that as an 'owner's draw' or 'owner's distribution', which will be a balance sheet movement. 

I would owe the owners the payoff of the loan and keep the profits.Loan balance of $163,000.