@Thomas Dunsmore it's more the opposite, make sure you confirm that the real estate taxes dont INCREASE since it's a rental.

Something in a managed building, or central reservations and management. 

In most cases: Only pay on what you drawn, Low monthly payments, typically interest only, no monthly/annual feesCons: Variable rate, ballon payment on unpaid principal after draw period, low rates now and will adjust upwards based on prime increases, HELOC interest is not federally deductible (please confirm with your CPA), HELOCs on NOO properties are hard to find typically with higher margins, most NOO seconds are HELOANs Current rates make it more appealing for a Cash-Out refinance

115k is not that much in liquid cash as I grow more and will need reserves.

This was not only inefficient due to the showing that used to take 2 hours to show to a dozen people not takes a dozen (there are a lot of no shows even if you confirm a couple hours prior to the showing) but also due to the open house having a more frenzied environment, the open house was far better at getting tenant applications (FOMO).  

@Riley JohnsonYour docs say no short term rentals....end of storyYes, you Can just cancel your reservations....perhaps with some consequences, but oh wellSo just let it be vacant for 2 months

In terms of how we price it, it’s based on acquisition costs, renovation costs, reserves for rainy days, and a markup since we’re holding all the debt.

Maybe if you've done 50 deals and they know you are safe, but as a newer investor there are no ways to do this in the real world.In the day before the GFC this is how all OOS turn key worked:WEst coast marketing companies would get buyers  ( these folks are still in business as we know)rehabber in the market  Pick any turn key market would find a home that they could buy rehab and sell at 65% ARV  which today pretty tough but in those days my company did close to 2000 of them as the A and D lender.So we would require ONLY 1k down from the borrower  ( so not no money down but pretty close)  I would fund the purchase and rehab the rehaber in the market  say Detroit Chicago Memphis Jackson KC Indy those were all my markets. would do the rehab and once it was done they would do a refinance now my LA based buyer was already pre approved for the take out ( REFI) Just subject to a 442.. we routinely spun these deals in 90 to 110 days start to finish.. the LA based buyer would then do a 75% cash out refi and pay me off  and they would normally pocket about 5 to 8k in cash that was to be used for reserves.. so no money down and actually cash out.My flipper made his money the west coast marketing guys got their commish and I made my fee's on the HML..  

I don't have enough cash to do the 15% down payment, all the repairs and have a 3-6 month reserve.  

Because I thought those types of loans were reserved for primary residence..