It depends on the type of roof comp, tile, concrete, metal. 

It was 'remodeled' maybe 15 years ago into an open balcony master BR up with an open metal center-spine staircase.  

Personal Liability: For claims due to Bodily Injury or Property Damage that you becomeLiable for and which is covered under the policy.

(Our bank's HELOC's have a max term of 5 years.)Other standard expenses: (via MLS listing)Property Taxes: $185/mo.Insurance: $135/mo.Utilities (owner pays): $450/mo--Total (no HELOC): $1,620Total (w/ HELOC): $1,910--Income: $560 x 4 = $2,240($2,016, figuring 10% vacancy rate)--Profit, no HELOC: $396 (incl. vac. rate)Profit, no HELOC: $620 (not including. vac. rate)Profit, w/ HELOC: $106 (incl. vac. rate)Profit, w/ HELOC: $330 (not including. vac. rate)--House has a partial new roof (split, part metal, part asphalt) and mostly newer windows.

New metal roof, gutters, cornices, new HVAC,  electrical updated etc . plus cosmetic fixes, paint, plaster, floors.

Ask age of roof shingles/metal obviously. 

If you were paying for something say precious metals... often do a EFT to the company... some people do wires when buying a vehicle/etc vs showing up with cash. 

When it first opened is was used a vacation rentals the over time became more long term rentals to locals and since the couple was getting up in age a lot of the cottages were neglected, except 6 have new metal roofs last done about 5 years ago..This is a major undertaking that I'm not 100% sure my wife and I can handle she seems to think after renovations we could gross over 150K per year but I'm a bit more skeptical but seriously considering it but hate to sink all cash into the deal if we can't find financing.. 

Hopefully I'll know enough in a year or so to help develop more realistic numbers for future analysis.I've briefly thought about dumping it, but I've got the emotional part of me where it's like, I just met all the tenants, had great conversations with all of them, it's not like they're my friends but there'd definitely be some awkwardness there.

I see a lot of out-of-state investors missing a home by a block or two, and they they are left trying to secure everything at the home. ( Metal bar casing around AC units and extra security at home) Getting a good team together on the ground is always your safest bet.