Its hard to cashflow buying normal deals in 2024, theres almost 0 chance you will cashflow from a turnkey company after real expenses using a manager. 

Hello Ian, Using a Heloc to purchase your next investment is not a problem.

That being said I'm under contract to purchase a duplex in St Paul using a local portfolio lender so I can definitely run through my thoughts on a zoom. 

Mink,I would advise using a Fannie Mae 5% down program to avoid the FHA up front UFMIP finance charge. 

Also, I see no record of a pending lawsuit against you in the county or in trellis.So, I see your concern, and appreciate the warning to the rest of us (tho, I’d be using a lawyer for my own Florida evictions.)

Start-up costs are also deductible but are amortized over 15 years with a limit of 5k.Start-up costs have strict rules and your case might not be the same as this one.Case Summary:Timeline line of eventsStarted investigating property: FebPut first contract (canceled): MayBought first property: December 30thWhether a taxpayer is engaged in a trade or business is determined using a facts and circumstances test under which courts have focused on the following three factors that indicate the existence of a trade or business:Whether the taxpayer undertook the activity intending to earn a profit;Whether the taxpayer is regularly and actively involved in the activity; andWhether the taxpayer's activity has actually commenced.On the basis investor testimony, we may assume that he undertook this activity to make a profit and that he regularly and actively engaged in it.

@Casey Johnson You can leverage your personal residence to fund your BRRRR strategy by using a HELOC once your home is far enough along, giving you flexible access to your home’s equity.

If so, it could be that they deny coverage if you are using as a STR.

You could adjust the scope of work in another way to reduce the costs to compensate for this addition perhaps by using a cheaper flooring for example.

What made you stop using a company?