I know it is dangerous to HELOC a subto deal.

Would love to learn more about this and potentially find a way to help.

Hi Likun,Rentals in the Butler/Vilano area vary greatly in terms of their potential rental income.

You have to run your own numbers but compared to a 203k loan the NACA lower rate and no closing costs were a slam dunk even including the potential 25k.

Property taxes in Madison city properties are also now ridiculous compared to 5 years ago, and greatly affecting cash flow potential (or lack there of). 

Use online resources, public records, satellite imagery, and neighborhood data to assess the property's potential.

Hi Bryce,Although this is a three month old thread, but its still fresh opinion about the Soo market.You are right it has a huge potential for student rental, just one need to aware of the area they are investing.

Today, a day before the showing she said that she will be coming home around the time I am going to show the room to the potential tenant.

Potentially looking at living in my first property for a year as this would be $300 - $400 less in current rent, while I fix it then rent it out after that year.

If everything is up to code, mortgage approval should be straightforward for potential buyers.