Based on your post and other comments, it sounds like your rehab is extensive enough that the property isn't habitable.

Allocate equity based on contributions: you provide the $235K HELOC and management, while your former boss contributes renovation expertise and labor.

You are paying the same exact rate of interest each year based on your outstanding balance.

I didn't see anywhere that you posted what they said ARV was, or what you think it is based on comps...the County assessment has no bearing whatsoever on value.

The only reason we don't qualify for traditional lending is because I took some time off to help my terminally ill father, and my husband has been in a commission-based role for less than a year (the lender said you need 2 years of history for that).

Hi Derek,Based out of Surrey, BC and thinking of investing in the states as well.

Was your loan based on just the purchase price or the total project cost? 

At some point you may need to consider the following:- The website that's monetized based on clicks and advertising and page impressions says this is a super easy thing and everyone should do it.

Lenders can have different loan options based on the property type and the amount of rehab (if any) required for the project. 

I’ve spent less than 150k total out of pocket investing in RE in the last 9 years and have been buying “base hits” in Dallas and Arkansas and now have 29 SFR.