You may need permits for plumbing, electrical, and structural changes.A HELOC can be a flexible and cost-effective way to access funds for a down payment on another property. 

Better software will give you the option of charging the Tenant for those ACH fees, but I personally eat the cost of them.

As long as this 4plex would be in a high-cost area then conventional would still be a possibility for you. 

They are typically interested in a furnished bedroom, have the income stream to guarantee rent payments and are fairly low-maintenance. 

Next, figure out how much the entire rehab will cost and contrast it with the possible rental income.

But if you buy a property low enough and value comes in high after the repairs, you could take out most of your money that you put down when you  refinance. 

Thanks Hi Rahul.Some areas North of Phx have a higher percentage of STR's and some have quite a low percentage of STR's.

I'm a construction cost estimator building my real estate network, and want to offer my experience to the BP forums.I've spent 3 years in residential estimating and 5 years in commercial estimating.

The type of property you're targeting is lower risk and your return expectations are low. 2.

So, check into that as that may be an additional hard cost you need to factor in.