What’s your timeline for acquisition?

The drawback to paying off the 1st and the HELOC with the new 1st is that if you didn't take the HELOC out at the time that you bought the property, and/or it was used as part of the acquisition of the property, then it will be considered a cash out refinance. 

Acquisition line from a local bank after gaining credibility 5.

.- They gain acquisition, project management AND property management experience - all which will help tremendously when its time to scale and grow the portfolio in other markets.

Most apartment or multifamily acquisitions will need to know exactly how much revenue is coming in per month with X amount of units down, vacant, turned, etc.

With that being said, my intentions would be to put in the work as your agent to make the process from acquisition to resale or rent as smooth as possible.

We crunch the numbers and determine an acquisition of 120k will net a solid return on the rehab.  

Congrats on the acquisition! 

I would welcome the opportunity to discuss your acquisition criteria in further detail and see if we can help.  

To find your ROI, multiply that by 12, and divide by the acquisition cost.