Just by looking at these numbers & the fact that you have a ton of money you owe to pay down a HELOC.

Renting rooms usually helps you have a higher occupancy but if all rooms aren't rented you net less money.

It may be a little late in your case, but since the economy is tightening, others reading this might benefit by not have their money missing when they really need it.

Maybe I can make more money doing that then REI :)

It's great to have you here.Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/m...Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/a...Read Beginner’s Guide: http://www.biggerpockets.com/r...Check out BP Money Podcast: https://www.biggerpockets.com/..Wishing you the best

If I was in financial distress and losing my home through foreclosure or tax delinquency, I would not want to deal with an enthusiastic newcomer trying to make money on my misfortune.

Another option that I've seen in the local market is purchasing a heavily distressed or big rehab project with a local hard money lender that will allow a smaller downpayment due to the amount of equity in the deal on the back end.

Yes you can make money in Kensington and Strawberry Mansion but does  that the type of asset and renter align with your goals?

And the GC has no money at stake, so he can simply walk away if things go badly, leaving you holding the bag. 

They agreed, including them paying all closing costs, and we had set a price in the lower 400ks… I asked for more money, which they obliged to add about 10k to, but just today they said their partner pulled out.