(Buy, rehab, rent, refinance, repeat.)Your choices: Use that HELOC as a down payment on a 4 unit.

It has income statement, schedule c calculation, quarterly tax payment estimates, and expense calculations for the income statement.

How do you arrange payments (partial upfront, with balance at completion)?

What are his current payments?

I have made enquiries with a property management company in Tampa and they have sent me details of their charges and a copy of the agreement.I am only a small investor with 1 property currently and I have a few issues with the rental agreement (I've not committed to this or signed anything) as it seems that the agent (PM) is not responsible for non payment by the tenant, even though they charge for screening the tenant prior to contracting with them.

They need to test the outlets, switches, and faucets before you submit payment. 

Does anyone have letter template that you send to borrowers who bounce a payment?

The problem with being a new investor is that, unless you have enough net worth and liquidity as well as a down payment, you need to rely on other investors.  

We buy them, rehab, place a renter and then refinance cash out original down payment funds and recycle the same funds into the next project - repeat process.  

This will help me to get some money for down-payment on my first MultiFamily purchase which I am planning to rent to others.Would like to find out if there are any members in the area who are doing something similar.This is a great website and I want to thank everyone who have build it and contributing to it on the daily basis.