It can totally be done, even in this market.

This would obviously reduce my cash flow on both properties, as I would be paying the minimum HELOC payment plus extra towards the principal to pay it off quickly.

Conclusion was pretty obvious for me.Great point.

We signed P&S agreements on 6 different properties totaling 20 units approximately 8 months ago and received a call today that the price we thought we were buying at has to-be increased on average 13% due to the increased cost of construction.

My CPA also quoted $350 to send out only 6 1099's total in 2 LLC's.

As you begin your REI journey here is one tip I have for you:Use this website as you are trying to narrow down the places you want to invest in. https://www.areavibes.com/Its awesome because it gives you a "total livability score" & you can compare different zip codes & streets to others. 

So obviously many of the LPs appear to make these investments not really knowing much detail..

For instance, if there was a total of $250K of debt on those properties that woud leave you with $350K of proceeds to use to purchase $600K of real estate.  

Thank you, Adam  Hey Adam, obviously Bias here as we are accountants, but yes with three properties is definitely worth hiring a CPA or tax specialist that focuses on real estate to ensure all your taxes are filed compliantly, properly, and you're getting all the deductions possible.

You’re totally exposed to being strung along the way you’re doing it.