I have no debt, a good stable job making about $60k+ gross, and $20k saved up with about $10k in my 401k that I'm thinking about using some if not all of it towards the closing costs of the home I want to buy.

Too much bad debt 😅 kind of a joke3.

As you know, cash flow comes down to how much you have to put in the deal, what it produces, and how your debt payment is structured. 

The downside of bridge debt.  

Eliminate debt, establish a budget, and save.

The property cash flows at a 15% ROI…………………..before insurance, debt service, utilities, management, vacancies, repairs, maintenance, payroll and property taxes7.

Thanks for giving your input! 

@Michelle SharkoAnswering questions in step by step fashion:- Is it a good thing to do or not is a personal finance decision and it depends on the person asking it, their risk tolerance which in part has to do with how this HELOC or line of credit works and how your personality fares relative to taking on new debt (a person more adverse to debt might have sufficient savings and temperament to pay down/back the debt versus a financially liberal person might get in over their skii's as).

As someone else mentioned, what I've seen a lot of in the past six months is deals that don't have the rental income to service the debt and borrowers with marginal credit.

If we let 30 RVs on the property it may attract too much attention, but being conscious of neighbors the rural area takes on more of a 'ask for forgiveness rather than permission' vibe for anything that doesn't involve permanent structures.