His credit score is fine but his income is showing too low to get the loan, so I though maybe I could use my HELOC to make the purchase and do a Lease to Own.

Reinvest profits, stay patient, and keep building toward replacing your income.

Guests love this upsell for the experience provided, they are more likely to share on social media, you can use the decorations as marketing, build relationships with local vendors, and provide extra income for your team. 

Section 8 is best used as a risk mitigation tool for properties in super low income, high crime areas.

You have come to a great place to learn how to build wealth and income with real estate.

Another variable in the amount of rent that a Section 8 tenant can pay is HUD limits their rent payment based on the amount of their income. 

I know it seems difficult to turn down the potential income from this lease, but be patient, renting season is just around the corner.

When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that the land itself is not depreciable.

It would take around 5 years to pay off the HELOC by using some of the monthly rental income from two investment properties.

The higher credit, higher income, gainfully employed S8 tenants are choosy about where they live and do not want to live in a bad, high crime area.By buying in an area that appeals to high quality S8 tenants, the arbitrage that you might see between S8 being higher than market might disappear.So that being said, it’s more important to lead by location than strategy.Happy to talk further if you like.