Not only is it a recreational source but it is a climate moderator.  

Finding a reliable contractor for the rehab portion and then a good property manager once it's rented seem to be the biggest issues for those who aren't local. 

Know this: the #1 reason why landlords fail - failure to manage to the lease (source:  American Apartment Owners' Assn). 

The biggest issue with Stessa is that it sounded like they had very low transfer maximums(making it difficult to pay people) but it looks like they've improved a little bit on that.

However, we are taking over from a PM to self-manage and are inheriting the current setup.Our biggest concern is that this first communication from the tenant was a sob story asking for $500 back/off rent.

The biggest difference here is that you'll pay P+I on the entire loan amount immediately with a cash out, but you'll only pay interest on what you draw on the HELOC during your draw period.

you also need to source the property, and for BRRRR you need a goldilocks property - something that is distressed enough that you can buy substantially below market, but not so distressed that it's not worth fixing up.hope this helps - happy to help further

One of my first--and biggest to date-- blunders in real estate was working with a contractor that I deeply connected with. 

And to make a BRRRR work in the current market, you either need a crew that can do cheap work or a way to source deals.

The biggest impact AI has in our business I believe is follow up re-engagement and appointment setting.