Private  lenders, are non-professional lenders ( your uncle, colleague, uncle money bags down the street)   They're just ordinary  people who want in on the real estate action but don't have the time to find and manage deals.

You need to decide if there's still more to be made or if you're about to be the guy holding the bag when the music ends.How do you plan to do sweat equity from several states away?

So it's not as tho you're  going to pack your bags while the ink is drying on the HELOC.

Once you buy the property it is officially under new management and you might have to get rid of some of his dirt bag tenants, as a worst case scenario.

I inherited a scum bag tenant that lived in the property for 17 years who destroyed the apartment with all his amazing handywork and stopped paying rent when i told him he couldnt use his apartment as a laundry mat.

Some even have a lovely landscape of broken trash bags.

The "mold" looks like it is more likely dirt and dust coming out of the register when the air is on, and due to the humidity in FL sometimes you'll get condensation on the metal register(metal gets and stays colder than everything else and small amnts of condensation form) and then the dust sticks to it.

Hey Kids, I had to dust off this thread to share some pictures of the foreclosure POST renovation!!

Like you had a small bag of peanuts and the other kid had a candy bar you loved.

If you have the refi in the bag  then even using CC would work.. but make sure the refi is 100% you dont want to get stuck with worse rates than a HML would charge you.and yes 50k loans are very tough..