Vacancy costs you money, so you might even want to offer more or a bonus to tenant reps to help your place rent faster.Most of the time for agents to be helping tenants it is really a labor of love and hope of future business. 

We are new here, try to do bonus depreciation.I have high w2 income, My wife has a w2 income of about $100k.

Pre rehab the lender puts up 80% to 100% of required funds, never more than 65% of ARV, and I pay 12% across interest and points with bonuses for early payoff.My typical 'lower risk' deal looks like this:Value: 100kLoan: 65kRate: 9%Term: 36 monthsMy typical pre rehab deal looks like this:PP: 35kRehab: 20kARV: 100kLoan: 55kRate: 9%Points: 3%Term 12 monthsI may also set the note and deed at 60k and discount by 5k instead of adding points.Hope that helps.Good luckDG 

Take advantage of the bonus depreciation while you can.

I would welcome any generous experienced CRE professional who is willing to accept the value we can add to their work while we absorb knowledge and wisdom in return. 

Due to bonus depreciation on our 2021 apartment purchase, we have over $1M in unused depreciation that we can carry forward to future tax returns. 

I would use that HELOC only as a backup plan to a conventional 30 year fixed loan on this deal.The reason is because it will be much easier to get a purchase loan on an investment property compared to a cash out refinance loan down the road in the event you want to tap into that equity (and your interest rate will be better with a purchase loan as well)Added bonus, if you use a purchase loan now, you can use those HELOC funds for something else.

As such I started off and continue to be a part time agent for non-family buyers/sellers which helped ensure that I had stable income from W2 and "bonuses" from commissions whenever they happen (hence no pressure to close deals).Family deals aside, because I chose to grow the business organically through my sphere of influence, I've been able to not waste a dime on advertising or a minute on chasing cold leads.

Upstairs, you'll find a generously sized master bedroom with a luxuriou en suite bathroom.

I think it would technically be considered a 3 bedroom unit but I think it’s better as a 2 bed + office or even 1 bed + 2 office/bonus room which is how I currently use it.