The roofs were updated in 2021.All units are currently occupied on month-to-month leases, with three tenants paying $1,425 per month and one tenant paying $1,300 for handling lawn care and maintenance.

Do a lot of research on what type of property you want to buy and what investment strategy you want to use (it's ok if this changes, just have a plan).

a plan to refinance our current mortgage as well as get a HELOC.

Then I know it has got to have rodents and bugs in the property that will need taken care of ASAP once the place is cleared out.

In talking to my investor since he closed his plan is to gut the house and flip the property.

And when that 12 months is up, how do they plan on continuing to pay you then?

I have an LLC that I just created that I plan to move that property into.I am currently living in a 3/2 valued at $600k with an outstanding mortgage of $300k.

What is the end game plan?

If you are planning on doing anything more than a cosmetic flip, buying a property that has already been gutted to the studs saves you time and money. 

@Brandon JusticeIt sounds like you have a good business plan to move it forward into cash flow positive.