The 600k is rolled into the Y2 build (same as above), this is repeated for 5 years at which point the Y1 build is refi (will have approx. 120k in equity build just from mortgage pay down, no apppreciation factored in.

It has not been smooth at all as most tenants do not want to pay.

Treasury bills are paying 5% and if you stagger their maturity you could have the money ready to go if you find a better opportunity.

Paying off $100K on a loan of 6.75% is the same as investing $100K in an investment that returns a guaranteed 6.75%.

This book also gets into how you budget to pay yourself which is hard to figure when all money is intermixed.

Document everything.I just had a guest at a property that I manage ask for a full refund for a stay he booked last minute, ignored paying a pet fee, ignored my request for the pet fee, asked for an early check in.  

I am not trying to avoid paying for work.

Once you do the rehab you can refi to pay back the HELOC.

Nobody’s going to pay $850k cash for a chance to earn $50k (if they run it as well as you.)

Love listening to all the gurus tell you to just tap into your house's equity to use it to create wealth, but you can't tap into money you can't afford to pay back.