If they hit their numbers they would be leaving hundreds of thousands of dollars on the table by financing with equity instead of debt.

That's 3x the size of most Philly zip codes where real estate investors customarily buy investment properties.

I would probably put a cap on the size of the tank. 

(with the DSCR loan to purchase moving faster ~ 2 weeks, it's conceivable we may be at the closing table faster than the HELOC closes).We are considering other options for the downpayment (approx $25K);   and then replenishing the funds with the HELOC cash once it hits.  

@Marc Shin we use both granite/quartz and laminate in rentals depending on the size and rental quality.

The illegal in-law units/ADUs are somewhat common in the Bay Area - many people with paid off properties are collecting under the table rent money without reporting it to the IRS.

I use PropertyShark to find the lot size, previous/ current owners, square footage, sale history, ect... 

For simplicity, I did not include closing costs or loan points in the purchase price numbers, but did include a fee of 10% of the sale price to cover closing costs, commissions, and minor repairs.ModelsBelow are two tables showing the IRR for the traditional rental, using a 20% down payment, and the BRRRR models using a 75% LTV loan.

I have never been to any of the properties I own in Atlanta and closed on all of them from my dining room table in Long Island.

To avoid any confusion, this is not the same thing as ( “home sharing”, or an “owner-occupied rental.”)Improvements generally need to be depreciated over 15 years, note I said generally, depending on the nature of the improvement and how long the IRS standard depreciation period is for the cost and size of expenses.Strategies depend on a number of things including, but not limited to: type of property, your material participation, how long you plan to hold it, your goals.