A line of credit won’t commit you to a monthly payment unless you use the money, so you can avoid paying interest when it’s not in use.

To make the strategy successful, you need to find a property that can be acquired below market value.

Total loan is $500k so the other $400k comes from other investors.My husband invested in a note with Aloha last year as a trial, and unfortunately that one went into default a few months later.

You could form a month to month lease with a just a days notice to vacate so you could end it as soon as you get your license ready to close, the seller might be open to it.https://www.hostaway.com/blog/rental-arbitrage-joshua-tree/Or, you could continue to list on the seller's Airbnb and you could become a full-access co-host on their account - handle all communication, pricing, etc.

But you should be raising rent $100-$200/month every year.

I don't think we are going to be able to come up with $50K before they're going to need to move and no, definitely no family members able to gift $50K. 

@Noyessie Hubertyou need to hire an attorneygood luck

It is easy to provide well-intended 'bad' advice.My questions to you would be... 1.

I joined various internet marketing programs and mentorships to find ways to transition from my W2 job.

What methods would you suggest to screen potential tenants?