In equation form, if: potential return x probability of gain >> cost of investment.For example, a deal that costs 10K that is associated with a 50% change to earn $100k is a great investment!

Throw in some Shakespeare, Differential Equations, and the "I'm a  Gummy Bear" song (yes I have a 4 year old!)

And I keep re-reading your first post and not understanding where a HELOC is coming into the equation.

I understand that the website does all the calculations for me, but being an engineer I typically learn better through actually messing with equations, seeing where they're derived from and applying them myself.

What I equate completely renovated to is they replaced all plumbing, electrical, heating and air, water heater, new roof, new siding,etc.

Over the course of a year, that equates to $300 EACH AND EVERY YEAR.

. $300 a month in a 30 year mortgage payment equates to around $60,000 of home value (depends on the interest rates).

Definitely some higher level thinking there, but equating cash flow and opportunity value of equity would have to be at the discretion of the investor.

This essentially took Dorm expense out of the equation and provided some good experience for the son.

*ALERT ALERT* – SOMETIMES LESS IS MORE, YOU HAVE TO ANTICIPATE WHO YOUR END BUYER WILL BE AND SEE IF PERHAPS LESS BEDROOMS CAN EQUATE TO A PROPERTY THAT WILL BE MORE IN DEMAND TO THAT BUYER.