You'd be surprised to learn that someone living in a rental or apartment, that has a family and is a successful small businessman, has the money and is willing to take that deal.

All this is to say, I believe it would be money well spent for sure... 

If you had also spend money on renovations and improvements while occupying those should have gone into service then as well. 

Personally, If I could pull out a HELOC, I would use it to fix and flip which will typically make sense as you shouldnt be keeping the money out for that long and you can recycle it or pay it back and build off the capital that you got from. the flip.

Sometimes, we tax professionals can save you a lot of money or save you from a major problem.

You can get more money on either of those avenues..

If you don't want to separately meter for gas (which would be expensive but you would recoup the cost many times on a long hold), you are going to constantly be feeding this alligator of tenants wasting your money with liberal use of heat. 

As a side note, FDIC insurance protects depositor money, not debt.

Just save money and etc....This conversation is not for you.

Instead of shelling out $60K for a $250K deal, maybe some of you can help me figure out (or give referrals) to title companies, etc, or give overall advice how to save me money from this enormous financial endeavor (closing the deal).Thanks!