If he does poorly, it could impact your personal relationship for the rest of your life.

Jeff My 3 most important items are:1) Report damage w pics2) Replenish / refill supplies for guests3) Let my offshore VAs know if any supplies are lowCompetent cleaners can handle the rest!

The rest depends on the building, the leases etc.

I officially had a 73 unit building for $554,800 and I couldn't be happier.

Most real estate investors already have or have the option to release our original equity through mortgages and then defer capital gains for the rest of our life through a 1031.The only advantages I see for OZ's are if you have access to amazing development or value add opportunities that fall within all the guidelines and the ability to execute within the designated timeline.

We never officially notified the city about these additions. 

I am waiting for the official report and then I want to negotiate my offer with the seller.

What I'm confused on is if we use the HELOC for down payment and bank lends the rest to buy the home (assume $125K house), then we fix it up, would the strategy be to then refi the home and pull out equity to then hopefully pay off the HELOC?

(ofcourse I'm just guessing and don't have any official knowledge in the subject)

Investment Info:

Small multi-family (2-4 units) fix & flip investment in Rougemont.

Purchase price: $380,000

Cash invested: $30,000

Sale price: $570,000

It was 4 houses that were bought remod...