I have decided to look into a heloc, I'm a bit newer into realest state investing, I have completed a couple of fix%flips this year, I currently use hard money for the purchase with 10% down and I cover 100% of the rehab, with that said even just doing a couple of homes at a time, I find myself around 200k out of pocket, I think it would be a bit easier on myself and wife if we utilized a heloc vs just cash, my primary should appraise around 1.1m and my mortgage is 640k, I'm looking at pulling about 250k for a heloc, I don't want to refi the home and cash out as I only want to pay interest on funds as I use them ( I know I won't always be using the heloc cash) Any advice or even knowledge for people in a similar situation, and anyone have a referral for a Heloc?

The main issue with rental basement is water if it has water issue usually it is a simple fix .Clean gutters ,discharge gutter  water away 10" away from foundation, make sure you foundation soil is slopped away from it .If you need to buy soil get a clay mix .Cut back any tree too close to the foundation look at the drip line that's how far the limbs are out from the tree .If all that is done still has water buy a sump pump  carry the water to day light away from foundation 10" to 15" .

Hi Lauren, as others have said Boise is a great place but a tough market for cash flow these days.

@Marc ChaleIf they want to clear it up- why get a third party collector - compute what they owe and send it to them.

I want to live in one unit and rent out the other unit to help pay off the mortgage, then buy another spot when I have enough saved up as a vacation home.

Trying to get market rates.

Sure your buddy can buy a house for $1M and sell it to me for $100,000 - I will do this all day long but I do not think your buddy will.Whats the point of this post?

This tenants have lived in this apartment two months only, we had several issues similar ones.   

Welcome to Dallas. 

I hit 2 years at this home and tried crunching some numbers to see how much I would need to sell my current home for to break even with escrow/interest/reno costs.