Have you checked with the building department that there are no open permits on the property?

Then you will be paying interest on the HELOC and mortgage with no real prospect to get those HELOC funds back to continue on.

@Stewart Campbell Other than setting up an LLC, most investors just purchase a landlord policy which is endorsed to permit short term rentals.

@Vincent Gizzi FB is great for getting a lot of leads in a short amount of time but the quality usually isnt the best.FB leads oftentimes don't know what they're inquiring about despite having to go through 2-3 steps in order to submit their request.Not to say that it isn't a good source, it just takes time to fine-tune your posts/ads to get the responses from the most qualified prospects.

Pink fireplace.Several of our prospects didn't like pink.

I was clueless about permits at the time but now I have confirmed that one was never pulled for that job.

I was hoping to have something (other than gratitude) to bring to a prospective mentor.

Given historically low interest rates and the prospect of continuing to rent if you don’t buy...

I would get a lot of calls from real estate agents, prospective home buyers, or investors asking me too come and provide a quote on a property they were looking to buy. 

Do they flag stuff like a furnace or water heater that was replaced and didn't pull permit or are they usually pretty relax unless theres a tenant complaint?