While living in a high-cost area can present challenges, it also opens doors to creative strategies, like investing out of state or leveraging partnerships.

At 3 years none of the costly items have hit their end of life.  

Hi @Jose SaladinThe deed would have to be transferred into your name like a normal RE closing + closing costs and other fees. 

I would say for most people, the 1st position heloc is no a good bet, especially if you have a 1st mortgage rate of less than 5%.Using this strategy with a 2nd position heloc can be just as powerful, so you can have your cake and eat it too!

When you took in the increased cost of the build how did you arrive at that percentage?

So, the total base move-in costs would be $2500, all paid prior to lease signing.Since choosing a place to live is a very personal decision, please feel free to do a “drive by” of the property, located at 123 Main St., so you can get a feel for the neighborhood.

.$140k offer8% interest rate20% down8% management fee5% vacancy5% maintenance 5% cap exI haven't gotten insurance costs yet but it's been suggested that I plan for $2k per year. 

Any tips on balancing renovation costs with tenant expectations when preparing a property for midterm stays?

It’s about giving you the power to choose, not limiting your options.

2- if there is a “problem” Will the “solution” discussed solve it in a cost effective, consumer accepted way?