I would say the average home price in the area that we have to live in (this is a centralized location in the middle of where we all work, not very negotiable unless we found a very good deal) is around 600k for a 3-bedroom 1500 sqft home.

In my opinion, trying to get a line of credit on a property that's in the middle of rehab I think would be pretty complicated and not worth the time for the amount you would be granted (if you were granted something). 

I understand the basics, but I know there are always things that come up in the middle of a lease and all of a sudden you realize this isn't so clear in the lease.

Your financing options are more limited if you run out of money in the middle of the project vs finding funding on the purchase.

Consider going to Ivy Tech Northwest at first and go part-time. 

They were middle of the pack, as far as quotes, and the premium was $2200/year.

When you decide to make a change over, please do it during middle of the month or third week or so, but definitely before they have collected your rents for the next month.Otherwise, you could face difficulties collecting your money or be responsible to pay them fees for the rents collected for the month which they will deduct from your funds.

I think there is a middle point for each individual.

Everything in the middle of city is hit or miss as far as vacancy and general crime / quality tenant issues.

Always Did our own work" and had Rental units, until the Crash.......Question is, we had some people which stepped up to join with us if interested to form a LLC Partnership, We decided to do it, they buy the Property, and are Silent Partners hands off everything, we Handle everything day to day, do the work and Split the profits, 50/50 which we agreed, we just finished our 2nd house and sold it, closed , and ready to move forward to the next, however, in the middle of the 2nd house, they brought us a paper, kind of an operating statement of responsibilities, the 1st house we split about 40,000 and we were told on this second one, that they have to collect interest on them loaning the LLC. money to purchase the property, we thought that this was just a formality,and they would then have to put money back in, "on paper" which would be for the purpose of the  IRS, but we were told, that's the way the Book keeper said it had to be structured, so the project took longer than expected, to finish and sell...........but they have been instructed to treat these houses as inventory, new for us, as we never had partners before, short story long,We only ended up clearing a 13,500 profit, but turns out the interest was really going to go to them, along with a 50/50 split, so almost 10,000 dollars in interest, plus we split the remaining 3500, so we didn't do that well. obviously, is it ever customary for private money investor, to get a chunk of interest and 50% of the profits, I was not aware of it actually going to them, as real interest, since they receive 50% of profits as well, I feel like we must be the biggest fools, and duped, has anyone ever tried to pull this off?