Banner Elk rents well year round due to the busy summer season up here, and well as Banner Elk’s proximity to ski slopes.Best,Danielle

Most of my loans are what I call "5+2", so 5 year fixed, 2 years float. 

I was not comfortable with the way everyone started using bridge loans and floating rate debt in the last 2-3 years, so I avoided those type of deals.

As housing prices went down, the assessments followed so, assuming the muncipality/State could collect any taxes, the amount they were collecting were less since they had a fixed tax rate unlike what I described in my referenced post where the rate really just floats. 

The only downside with the HELOC is that the interest rate floats and we're currently in an increasing environment.

@Bonnie Low please be cautious with HELOCs, most are adjustable rate and float with the 10 year treasury rate.  

My god, that's a terrible idea.With 150k I take you right out of the small buy box market and move you to the major leagues where you'll be floating 75k - 100k in each deal but either selling for a heft profit or adding a really nice asset into the portfolio.

Its a lot more work when they have to demo existing tile and relevel/float to install the new flooring. 

I would define easy as something that you're comfortable with, have some knowledge about, is relatively close to you, and is at a price point that allows you to float the mortgage for a few months in case of trouble.

So, i assume he doesn't have a full time job, or much of a part time job.Just something to float out there...