HELOCs fluctuate with the interest rate so you need to forecast if you have enough funds to cover yourself in the event of hardships where the interest rate rises, rental rates drop, vacancy rates increase etc. 

The only difference is that FHA requires the property to meet a certain standard to have their loan cover the house.

Even if the price reduction is $1K or $2K, it will still cover for some or part of vacancy cost.Good Luck!

The complaining tenant thought that water was covered by the landlord (which was not the case).

We enjoyed the process, kept our first as a rental and are at a place where we can begin investing and are interested in either a flip to sell or flip to own.It seems like everything in the marketplace is for cash sales and while we have about $30K at our disposal, it seems that this would cover the rehab budget in the deals we have been interested in.

I had one made up in my dad's name and wrote out a Word document that covered almost every scenario I could think of. 

Insurance for one, without a commercial policy, I doubt you will be covered if something happens.

We enjoyed the process, kept our first as a rental and are at a place where we can begin investing and are interested in either a flip to sell or flip to own.It seems like everything in the marketplace is for cash sales and while we have about $30K at our disposal, it seems that this would cover the rehab budget in the deals we have been interested in.

We try to keep 100k available among our accounts to cover anything that comes up so we can weather the storms (but we also are nearing 50 properties).

REPLACE MISSING FLOOR COVERING”The floor is missing throughout the entire house, so how does this normally work when obtaining a loan, if someone can please break it down for me.