I would need a private lenders help to close on this house quickly since they have an offer in but are waiting on me to make an offer.

He's provided me with additional advice and quick responsiveness for a Richmond tenant issue.

It's likely that the maintenance responsibility could be specifically defined in the lease but you should get an attorney guide the board through the process.

You should also check out the "Ultimate Beginners Guide" or "Free Course" under the education tab on this site.

Not only does BP have free informative forums for you to learn and comment on, but it also has free online podcasts, courses, guides, and success stories from other investors!

However, they will calculate a new DTI (debit to income ratio) based on the new monthly payments from your cash out refi or HELOC loan.Some quick pros and cons about Cash out Refi vsHELOCCash out Pros-tax free money-low interest rate-no monthly payments Cash out Cons-closing costs (couple thousand)HELOC Pros-tax free -its a line of credit, hence you can use pay back then use again-usually NO closing costsHeloc Cons-higher interest rate-have to make monthly payments on money borrowedHope this helps,CB

Below are some quick tips about cash out refi vs HELOC/LOCCash out Pros-tax free money-low interest rate-fixed monthly payments unless you choose a variable productCash out Cons-closing costs (couple thousand)HELOC/LOC Pros-tax free -its a line of credit, hence you can use pay back then use again-usually NO closing costs on residential Helocs; there will be closing costs on commericial LOCs-commericial LOC is very fast moving as far as getting funding and refinancing  (Makes it easy to rinse and repeat)HELOC/LOC Cons-higher interest rate-variable rates-monthly payments depend on amount borrowedHope this helps,CB

It's easy and quick to get into Asheville so provides a good mix of being away from it but being close to it feel.As far as I know, there are no real restrictions on short term rentals in Madison/Yancey.

Quick reference/experience check: has anyone ever worked with Tom Salviski?

You would also be able to hedge your property against an upcoming market drop in the sense that you bought the property undervalued and if you needed to sell quickly, you would have a property that is in good condition potentially compared to other multifamily units.At the end of the day though, you are the only one that can decide what is best for your current situation along with where you see yourself in a few years.Good luck to you!