"$20-25k for spiral stair case install and remodeling of attic = $542,500"Details please: What were your costs to repair/rehab each apartment, common areas, and top floor/attic apartment? 

Both of us on loan, we get owner occupied interest rates and flexible down payment amount (although I feel I would want to put down 20% to remove PMI)Once Dad sells his home (easier to do than finding a duplex) he will give me about $55-65k of the profits, be the owner occupier in a duplex, go halfsies on repair/cap ex, but only wants to pay about $500 per month (he'll adjust for inflation!) 

You'll know if the tenants are in trouble, and it's easier on turnover to keep services on for repairs, etc. 

Needs 70k in repairs for it to be prestine condition. 270k ARV!.

If you would be able to get enough on the HELOC to pay for purchase + repairs on another rental, which you would then refinance (BRRRR), then go with the HELOC.

I think one of the first and most important thing for me is to have my credit repaired,, living under $30k per year, and crushed my medical desasters has really wrecked what should be the most basic articles of prosperity. 

Passive income from “long-distance” requires “good” property manager, “good” tenants, and “good” condition property (not much maintenance or repairs).

@Brandon Swartwood does the apartment complex need repairs?

And that some will disagree with as well."1% rule" = monthly rent should be at least 1% of acquisition costs; for some, acquisition costs include all purchase related costs PLUS any repairs / improvements needed immediately upon purchase."2% rule" = monthly rent should be at least 2% of acquisition costs; this rule applies more so for lower rent amounts, roughly $500 (and lower), and can be difficult to meet this rule at higher rent amounts.

AGE OF HOME (ASSUMED REPAIR COSTS ON OLDER HOMES)4.