If the rent is already $400 over the median value and the property would require a lot of work to rent to a new tenant, you are not going to be able to get back your renovation costs in small rent increases for years.

Less peace of mind due to increased debt, but trade off is better use of OPM.I will say we are leaning to taking out the line of credit for the pros mentioned above, but excited to hear your perspectives. 

Not really sure about what the protocol is when it comes to this, and there's no way I'm contacting my insurance company because I don't want increased premiums.

After taking sometime to understand the real estate investing landscape, I feel confident in starting out at looking for multifamily properties that I can house hack or use the BRRRR strategy to accelerate my growth in the business.

If you can't answer these questions confidently, you're investing blind without a cane.

But, that is common with the BRRRR strateg with the increased value and mortgage.  

I feel that BP has given me the confidence to seek out my first deal.

I feel that BP has given me the confidence to seek out my first deal.

I'm also a Realtor, I know how important scripts are in order to sound confident in what you are saying.

He had played me pretty successfully against other investors before and I so I am leery of extending as he is ready to close though I am confident he is also willing to extend.