@Gurjot Grewal highly recommend you hire a 3rd party Home Inspector, not connected to your PMC, to do a Scope Of Work (SOW) update BEFORE you forward additional funds to your PMC during the renovation.We've seen TOO MANY OOS investors get burned by shoddy work or charged for work never done.

@Carol Burns When they're abundant, you'll see them make it to the MLS.

Purchase price: $173,000 Cash invested: $77,000 One of the 4 units was burned for this property.

Purchase price: $173,000 Cash invested: $77,000 One of 4 units was burned for this property.

Back in 2014 I was burned out at my engineering job and wanted a change.

Hello,I have been trying to figure out a better way to purchase real estate without burning through cash.I’m considering opening up a HELOC on both my rental properties since their value has grown since purchasing them and then purchasing more Real Estate that way.

(Not giving legal advice I'm an insurance agent not an attorney) If you are sued and they allege negligence on your part they can pierce the LLC protection anyway is my understanding but you have to ask your attorney about that part.My bigger worry is in a claim situation with you having a policy in your personal name but the legal ownership in an LLC is the potential for the claim to be denied (at first) for not having insurable interest - you could fight thru to show you are the owner of the LLC thus the property owner and have an "insurable interest" entitling you to coverage BUT... do you really want to jump thru those hoops if the house burns down?

Vaulted ceilings, wood burning fireplace with abundant natural light welcomes you.

This protects you from a serious downturn because you have a free and clear property in case everything crashes and burns. 

I am worried about this market we’re entering into as a seller and if it will burn me with less people purchasing homes.