I recently inherited a house worth about 100K; I'll have it rented soon.I'm self employed with good credit but a low net income.Would HMLs be likely to give me a line of credit on the property up to about 75K for doing small fix and flips?

But, if part of your idea is for each property to be self sustaining, this might be something to consider.3) Why did you use $180K in cash to outright pay off the 2nd rental in full?

I am 44 years old and a self employed computer consultant.

Realtors as contacts....... why would my friend (whom is a contractor) have their spouse (a Realtor) offer you a "deal" when she can offer it to her self/husband or me.

Be careful to not over cover your self but be careful to match the coverage to your risk tolerance.

From a personal, self-interest standpoint I'd love to hear a little more about the red-tape that you had to work through to get going on the property.Congrats again and all the best!

@Ram Gonzales   you want to be careful couching your self as loaning money then switching them to JV in the structure you delineated.. this can be construed as bait and switch and the JV partner can make a claim that this is really a loan.So if its JV deals you want to do NEVER mention that your lending money because your not. 

If it's from a doorknob, buy one of those self-stick plastic circles, These days you can youtube about any little repair for advice.

I have not personally used them as I currently self manage my properties.

It is installed and the place looks great.Given you are in a snow area, the tile may not be a good choice as tile doesn't self heat.