Eats up time and money getting rid of a bad tenant (not to mention possible property damage). 

Without population growth, your rental income will lag behind inflation, requiring you to find additional sources of income.How long your rental income lasts depends on the job growth in the investment city.Non-government jobs are inherently temporary.

Both properties have a substantial amount of equity that’s essentially sitting idle.Would it be a good idea to tap into this equity (through a HELOC, cash-out refinance, etc.) to fund future fix-and-flip projects or purchase additional rental properties?

 @Bill B. in addition, the TAR seller disclosure form in Texas also asks specific questions regarding insurance claims and if the proceeds were used by the seller to make the repair.

In addition your 17 so I am assuming your still at home.

I'm an agent in addition to being an investor.  

In addition to PH I believe he also checks chlorine level, salt level and total dissolved solids. 

Hello @Yvonne Wang,The scope of work should include the following:- Basic info: Property address, client name, contractor's contact info, address, license#'s, signed general/operating agreement b/w contractor and client- Specification of repairs: Repair item, Quantity of items needed, total & per unit cost of items, taxes (if applicable), Completion hours, title of the person responsible for the repair item, written summary describing the work- Add'l info: Schedule of repairs, additional payment schedule details i.e. disbursement schedule, method of disbursement, deposits, holdback amounts, etc.The screenshot below highlights a couple of repair items.

While I can contribute some capital and sweat equity, I’ll need a partner to bring in additional funds to close the deal.Here’s where I could really use your advice:1.

So ultimately we decided to suck it up and not take on the additional equity, which ultimately required us to take more time on completing the needed rehab, however in hindsight it was a good decision, because even just among our own family there's been lots of dispute on what we want for the business plan and personal STR useage....