Hi Carrie Whisel. 

Taking out a HELOC against your primary residence only makes sense if your investment will yield enough profit to cover the carrying costs of the HELOC, Closing Costs and incidentals.

If you are not installing a second service / meter, you will be carrying that cost as well. 

This is different than the carried interest.      

There are many other potential investment locations that do not carry the high risk of Detroit.There is a strong belief that buying a property that already has a tenant is a great way to go.

Agents help us with operational tasks such as tenant screening & applications, leasing, marketing and listing management, reporting, owner onboarding, phone & email support, maintenance requests, admin support, overnight support, nurturing relationships with realtors and relocation companies, graphic design, bookkeeping, sending owner statements, managing collections, and other back-office tasks.I have some agents in LATAM (Argentina, Bolivia) that I can make introductions to.

**Lower Risk**: The buy and hold approach carries lower risk compared to the BRRRR strategy, 5.

Why not get the work done so you can enjoy some of the renovation OR wait til the last 3-4 months and then go ALL IN on the renovation so you don't have the carry costs of the reno for the first 15 months or so...this assumes the house is liveable and you are okay with hit how it is.

Typically, when evaluating and underwriting deals, we do not project a 100% occupancy rate to avoid overly optimistic forecasts that might result in negative carry post-acquisition.

Thanks Mohammed, no focusing on the cash flow is good if you have money to carry you, but I dont have money to carry me.