Tenant informed me that water came down from bathroom exhaust fan.

Hard Money is typically more of a "last resort" when all traditional financing means have been exhausted.

I’m in the middle of doing my first one now and it’s exhausting but exhilarating.

I had scraped and struggled along until then and I was just exhausted from the transient nature of the “gigs” I used to support myself up until that point .

We wanted to make sure that whatever we use of the HELOC, it is not exhausted.

Eventually, you'll exhaust the entitlement, but if used right, you'll be sitting on multiple cash-flowing doors and some equity (not to mention a bit of REI clout) prior to coming to that point.

This in some studies has been shown to outperform or at worst break even with buy-and-hold investing and is WAY WAY WAY WAY less involved, gut-wrenchingly exhausting, and fraught with those inevitable bad apple tenants. 

I would only present this option after they have exhausted or at least considered all other options first.

Don't sleep on Long Beach.Also, this is not an exhaustive list.