Just be sure the calculate in the interest you are paying on that HELOC into the new project.As for banks, my experience has been that many banks do not like to do HELOCs on rentals unless you have a decent portfolio which they then look at as a business instead of a single rental property.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Obviously not really big deal if he owns it out right, but it will be something you want to consider in your calculations. 

In regards to the numbers you're calculating they seem to be relatively conservative in my opinion, to be direct it's more than I use for homes that are in good condition.

Be very careful when it comes to vacation homes you need to be very experienced to be able to calculate the exact net cash flow. there is so many expenses that you might not understand, in other words you need to do your homework before touching any vacation rentals especially with the pandemic .

My opinion is that if people were making reasonable business calculations, these types of cases wouldn't even get there as the end result would be a judge having his eyes effectively glazed over and losing confidence in the efficacy of the sub metering solution. 

I pulled data from VRBO for similar 2br/2ba  units in the complex and by my calculations the nightly rate on average would come to $208.

., cost segregation studies), carrying forward 2024 losses, and accelerating deductible expenses to reduce taxable income.Shift to Passive Investments: If management has become burdensome, hire a property manager or transition equity into more passive assets like turnkey properties, syndications, or REITs to reduce workload while maintaining income potential.Expand or Reinvest: Use your equity to acquire new cash flow-positive properties in markets with strong fundamentals, focusing on diversification and long-term stability.By refinancing, selling underperformers, or paying down debt, you can improve liquidity and cash flow.

(Full disclosure: almost always I used an agent.)Start by doing your first deal as an agent in order to get a better understanding of the business, then calculate your overhead/ operating expenses and you will quickly see what we’re all trying to tell you.

You want to delegate all the mundane tasks to others and focus on doing tasks that only you can do.While you are calculating the costs of all the raw materials, you also have to calculate your salary into the total cost of writing your own handwritten letters.