You can get a HELOC if there is equity in the property most likely, which there should be since you own it in cash, but you will just be decreasing your pay out and then may end up short in repair money, depending on how much it is worth.

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

Either payout wasn’t right , horrible tenant selections ( I started requiring them to bring me the cream of the crop and I decide)  I tried 2  different pMs.

Quote from @Theresa Harris: I'm in Canada where refinancing is an expensive endeavor and we generally don't do it (we have to pay out all of the interest remaining on the mortgage). 

I recently acquired my first primary residence and am seeing ways I can best utilize the space for real estate investing. The property is a 3 bedroom, 2 bath (one of the rooms is the master with its bathroom and acces...

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

Basically, flip partnerships suck unless you spend a long time being clear about the roles and payouts, etc.

This ensures that any payout for damage or liability can be processed more smoothly, and it can help protect your interests if something happens on the property. 

I wanted to get your input on a potential investment opportunity I've come across in San Antonio, TX.

 I am a relatively new house flipper.  One of the issues I have noticed is that some people think of a flip house as being the cheapest possible rehab.  To address this I took detailed pictures from beginning to end o...