If you learn how much everything really costs to repair, you will have a line out the door of buyers.The second part would be to be right on the money on a real ARV.

If you want to do some flips or BRRRRs then you could consider taking out a Line of Credit against the three properties so you can use the cash with interest only payments for a short term project and then pay it back and then use it again (Lines of Credit are revolving - meaning you get to keep using the money).

So yes, more like a subject to where I am just picking up his payment.I have already househacked a rental I still hold, so worst-case scenario I would pull a line of credit or bring in an equity partner if more capital was needed. 

If that house does not Aline with where you want to be in 5 years don't do it and don't buy its off assumptions that may or may not happen.

In the market to house hack.  Looking for suggestions. Torn between using my VA loan or use my investment property below to help fund my deal.
Been losing deals left and right due to the owner occupied rule with VA.
...

That's much more of a net than a line!!

Did you get a line item list of what was done or did he just tell you this is what you owe boss get out that checkbook.I hope you get this worked out to a comfortable price because that's an awful big number to just jump up and bite your checkbook - that's an awful lot of Mc'Donald's cheeseburgers. 

I financed this deal using a combination of cash and a line of credit.

I financed this deal using a combination of cash and a line of credit.

You could then get a HELOC/LOC on that paid of property (a product that doesn't require you to use it) and then if you did have a big emergency you had a line to use on it.Now, ALL of this is dependent on how much money you have in the bank, how many properties you have, what your income will be like in retirement, what the standard age would be for your end of life (that's a scary one to think about), and while yes, you can certainly take equity out I just think it would be good to sit down with a financial planner...or even some other investors that are local to you that are around your age demographic and see what they are doing.I'm glad you are thinking about this for sure.