Mold remediation is not cheap and I'm sure there is at least one hidden surprise you would uncover if you did this deal, so be sure to add a 10% overage factor for whatever your contractor friend estimates. 

I always thought of this as a fatal flaw....but apparently there is precedent for it and extenuating circumstances considered.  

If the existing lease does not have the language in it that allows for that kind of extra expense (which is probably unusual) that makes a tenant partially or fully responsible with explanation to the new tenants responsiblility for that type of expense for air conditioning that is unusual unless common in that area and might be discovered during the research period on the subject property and uncovered then. 

The first time I walked through properties I knew absolutely nothing about them compared to what I know now so having someone that can point out potential flaws and things to worry about can be very helpful.

This is my 2-year average after all my deductions/expenses (gross: $1800/month).I am pointing out some flawed math in your analysis of profitability.  

The inherent flaw in Cozy's business model is that you cannot turn credit card payments off.

BP and all the new resources I’ve uncovered as a result are contributing to my analysis paralysis.

From that being said I wanted to get some feedback on my current flip to uncover some possible opportunities that I may have not thought of.

.  :-)The funny part of that , well the sad part ,is the average slob watching tv won’t put two and two together to see the internal logic flaw involved lol I’ve heard it said the average television program is based around the mentality of a 12 year old viewer .

@Page Weil Cash-is-cash...so to speak...sounds like you are paying directly from the HELOC account...rather than taking the cash from the HELOC and dumping it in an unrelated checking account...irrespective, the lender will likely uncover where the funds came from in their due diligence.