You don't need to know everything to get started; you need a foundation to build on, and the rest will come through experience and then refining your education.You can build a basic understanding of investing in 3-6 months.

Always happy to swap ideas and keep refining this process.

These loans are short-term as you mentioned, typically 12 months, so you'll need to refinance before that balloon comes due.

This has been the most successful model I have seen in real estate.This goes 100% against every guru and investor the past 5 years of get rich quick of buy, rehab, rent and refinance with little money - that video game is out of order so the gurus need to reinvest themselves and they are trying with seller financing and zero down.

Use the slower months to refine your operations and marketing strategy to boost occupancy and revenue.

We purchased this as a BRRRR on a Line of Credit, went to do a few fixes then refinance.

Without having a credit score you can expect to have a 10% reduction on the LTV or loan amount towards a purchase or refinance.

If you feel ambitious, you could try a BRRR strategy adding additional equity to the subject home and then taking equity out of it to pay off either the HELOC or if you decided to the refinance the primary residence. 

Keep it simple - sell the property and let each sibling do what it is that they want.If you keep it and do a refinance(to pay for the bills)Who will be on the loan, will it impact everyoen's DTI?

The homebuyers program I went through wouldn’t allow me to just pay off the remaining lien they said I needed to refinance or sell the home.