Purpose of loan (expressed to broker) is to pay off all current debt…90k HELOC, 50K mortgage (6%apr) on rental property (vacant/remodeling), and 30k credit card debt…basically a consolidation of all my obligations.

So far we’ve spent $37,000 to remodel one side.

I guess they're banking on some remediation dollars (once the crisis is over) to reconfigure and remodel those rooms, to attract the best-paying guests.

Mine includes roof 25 years, appliances and hot water heater 12 years, hvac 20 years, bath and kitchen remodel 20 year life span.

Keen to hear how the remodel goes!

(The pool was a headache).Remodeled from the ground up including in-ground pool.

I remodeled the whole interior and did a bunch of little work on the outside.

@Wade Megan - If you and your wife are willing to purchase a fixer upper home then $300k can go quite a bit further than if you were to look for something already remodeled.

Get the new leases(yours) signed2.clearly define the property rules (in writing) pets/vehicles, use of out buildings3.be fair and firm, and manage them, up or out over the next year or so.Took us some time, but we got rid of the problem tenants, remodeled and increased rent, and cash flow.One tenant is still with us, almost ten years later.Hope that helps..

My capex budget includes roof 25 year life span, appliances and hot water heater 12 year life span, hvac 20 year life span, bath and kitchen remodel 20 year life span.