But, neither of those eliminates the need for a good liability policy.

A good GC is worth their weight in gold.After auditing the books, I would probably try to work with him assuming it didn't eliminate my ability to make a profit on the deal and I wanted to work with him in the future.Honestly though, your biggest risk isn't with the GC, it is with the subs.

Having debt doesn't, in and of itself, hurt your credit score- not paying on that debt does.

(knock on wood, fingers crossed...)I think there is a window of opportunity in that area that will not last indefinitely so I'll be looking to raise more debt and equity capital to take advantage of it while it lasts.

Right now I'm paying down some debts while I learn.

I wouldn't saddle yourself with debt on a mediocre property in the hopes of something happening.

I was trying to get a secured loan for 13k to consolidate some credit card debt.

I guess I just need to find out the right direction to take those steps at this point in time.I would love to build a portfolio of cash flowing properties, but at the same time I understand the power of being able to leverage debt and build equity even if the property isn't producing a real strong cash flow at this moment..

obviously that strategy was hugely flawed... so nawadays, we like to have @ least $300 monthly cashflow after debt servicing, taxes, insurance, and home warranty.

Right now, I really don't have much capital and my debt to income ratio is horrible-which would make applying for and obtaining home loans next to impossible.