They found a tenant by the end of March to occupy by the end of April. 5 months loss of rent and more then $5000 in the hole.

How's everybody doing? I am a new member and super excited to learn from you guys. The wealth of knowledge on this site is amazing. I am currently studying up on wholesaling at the moment. I am following a lot of Max ...

Welcome to bigger pockets.House hacking is a great way to get started in real estate investing. 

I know I have to give my quarterlies and yearly's and I have to maintain net worth.. drop below and cash has to be added.With your average BP buy and holder they are getting their first 10 loans and these don't have net worth provisions so the banks are allowing them max leverage with no real over sight other than front end underwriting.I think some of the portfolio lenders on the bigger stuff I hear about they have annual reporting requirements.

I went to my first meeting with Bigger Pockets earlier and that is how I found out about this amazing website.

Welcome to Bigger Pockets!

Has anyone used a HELOC as a down payment for a bigger loan and for renovations?

@Bennett BurtWelcome to Bigger Pockets.

For sure, you don't want to move the beneficiary to the individual - all you'll get is the loss of asset protection.2.

Now if you are doing a monthly profit and loss as part of your underwriting, you do want to account for that.