If your plan is to use the card to help advance the material purchasing while waiting for draws, thats a valid reason to use a credit card, but I see too many inexperienced investors get crushed thinking they can use a credit card to cover the improvements or even the downpayment and I urge you to stay clear of this strategy.

Mostly, these buildings are well-maintained and many investors see these as “value-add” investment opportunities because the properties can be upgraded to Class B+ or Class A through renovations and improvements to common areas.

Don't wait for interest rates to drop - if they drop enough you can always refinance and improve the deal's performance.We are continuing to buy if the deals meet our criteria - the problem is that it is tough to find deals that actually meet our requirements :)

I want to clean it up, get good renters in there and improve the look and value of my neighborhood and have it as part of my retirement portfolio.  

Would love to connect if you have any stories or tips on how I could improve my footing in the real estate world!

This is essentially giving you some of the cash from your improvement (presuming they are significant) , as well as a steady stream of income into the future - which helps you long term in numerous ways.  

If he does a mediocre job and makes $83k as Air DNA projected, he will barely break even, but if he believes in himself and is willing to put the money where his mouth is, he can improve the performance and maybe make $93k or $103k gross. 

Interestingly, they've recently negotiated a re-purchase price with us IF we bring new funding to the table.The rehab is required for several reasons: (a) correct the damage the bank has allowed to happen to the property improvements these past few years (known problems include completely destroyed pool makeover; wild animals living inside the residence; flooring missing in sections of the rec center building; destruction of the decorative main entry gate mechanism; lots of dead landscaping; as well as latent defects not known to us such as working plumbing, HVAC & water services) AND (b) expansion & upgrading of the accommodations (converting the private residence to a 2-story lodge with the restaurant/bar, reception/check-in, movie room, public restrooms, gym/sauna/steam room/massage therapy room; enlarged pool & deck area with climate-controlled cover for year round use; conversion of former restaurant/bar building to a general store selling venue collectibles & wearables, selected pre-packaged foods, sundries, RV & camping items, bagged ice & a propane refill station; construction of a free-standing event center; free-standing cabins; enlarged & upgraded RV park with its own small restroom/coin-op laundry building; outdoor activity areas; new landscaping & fencing; new parking area & entry drives (personal car & RVs).We know our target audience having created and operated the former version of this resort for almost years creating an initial membership base numbering about 1,100. 

ROI - what's the cost and will it improve your rents? 

With real estate where the land improvement value is higher than the building value (like mobile home parks) the bonus depreciation taken can be significant, resulting in passive losses equal to the amount invested.