While this all sounds like a great plan, we've never done anything like this before so it's nerve-wracking to think about making such a large investment using our HELOC.

Right now I'm trying to examine markets/neighborhoods and have been looking through new construction/spec homes built in 2020 and sold and trying to analyse cost etc.

Imagine the nerve?

The first step is having the nerve to take the chance to grow.

Waiting for your property to appreciate, the repairs to be completed, and the right tenant to be found can be nerve-wracking, but exercise patience.

While on the surface of examining the rents in the most popular zip codes (19143, 19139, 19142) might show Section 8 rents identical to market, that being said the conditions needed to reach that rent are drastically different.

But even with the wins out there, I wouldn't want to be in a position where that was the last 50 of the 750 hours I needed - even if you argue it and win, the time, aggravation, and professional fees will not be immaterial - something both you and the professional you work with would need to be comfortable with when examining your own facts and circumstances, and deciding what position to take.

You would be surprised at how your nerves relax after having built relationships with these folks who are doing it.

The buyer had a termite inspection done and the examiner determined there was previous damage so the seller wanted a full termite treatment and repairs.

I’ve personally averaged 18% in the stock market since I started (2010 was a great year to start :) ) but I don’t think that beats what can be done when every dimension of real estate is examined.