I was told by her that you first have to put a down payment on a property in order to see the inside?

@Jordyn Ohsnot enough info to helpbut if you're using a HELOC for the down payment AND getting a loan, then you're probably negative cash flow given that's 100% leveragei would never do that unless i were going to refinance in the short term

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Since they are considering renting their properties out, sell them on the concept of getting consistent cashflow from you - without the hassles of being a landlord.You will then need to make sure you can make those monthly payments EVERY month in addition to do remodels.

If not, you may have to qualify with the full mortgage payment against your debt to income ratio, including the new home that you are looking to purchase.From a tax standpoint, you may want to speak with @Natalie Kolodij. 

A sub S election will probably block the free stepped up basis benefit though.

If you're a single mom with student loans, a car payment, and living paycheck-to-paycheck, then $20,000 would be devastating and a reserve is critical.

I do direct booking through the Houfy website, taking credit card payment by Square. 

I finally understand that credit card payments are exempt from needing to send 1099's.

This would pay us back less than we were owed but still enough to come out whole.We all tried to negotiate a short payoff with the second-position lender, who foolishly demanded payment in full.