I'd certainly have major regrets if I failed to capitalize on a large investment versus a small one for my first deal.

Thrya,Congrats, let me know if you need any assistance for the accounting aspect.First, put each property in its own LLC and open a bank account for each LLC.You do not need to create an LLC for Property Management, you can, but it's not necessary.You need to make sure you have the proper Chart of Accounts such as Assets, Liability, CapEx, OpEx, G&A Exp, and Equity.Chances are you will be putting the majority of the expenses under CapEx since you're renovating, once it becomes rental, the expenses will be OpEx.

Most of the big boys will loan in the majority of the lower 48 to anyone living in the lower 48.

Our house in California has a loan on it for $220k but is worth about $600k and since we are still owner occupying it we are thinking of pulling out a HELOC on it so that we can use the money to purchase a couple for rental properties once we get back to Indiana or just have it available for any major future problems.

@Rich Somers - I agree with @Patrick Liska.Additionally, since you're going to be there for the inspection, you have the opportunity to pull in an electrician (or HVAC) IF the inspector finds major issues.

I'm trying to figure what the path to profit in paying 83% of ARV for a property that needed major repairs was supposed to be.

Thinking ARV is 110-120k Asking price is 25k Arbitrarily thinking a full rehab could be around 70k assuming the worst and me doing most of the non major repairs.

Major hobby landlord mistake.

Restricting the data to this property profile and area matched the majority of our investor's properties at that time, which are A or B class properties.We started by exporting data from the MLS for conforming properties that sold or leased between 2008 and 2014.

i would connect the two so that it turns on when the light is turned on, if separate chances are they are not using it.as far as the bedrooms, i don't know the construction out there, but i'm guessing the walls are not that well insulated and with the a/c inside and hot humid outside, that can cause this if not broken by a well insulated wall. this is a major health problem inside and needs to be addressed, see if there are any energy co. out there that will test the insulating value in the house where they install a fan at the door and check the house for leaks and insulation value.