Like anything else, just account for the costs in the renovations.

Some banks require seeing the deposits going into your account, others just require seeing an agreement. 

Originally posted by Account Closed:For those of you who have turnkey real estate in other states, how often do you check in with the property management company?  

Even if you take the capital gains you would pay on the 210K into account, at first it seems the deal is one that I personally would not be comfortable with.

Account Closed Sorry about the confusion.

Hi Kevin,My go to commercial real estate reports are:IRR's annual Commercial Real Estate Trends ReportPWC's annual Emerging Trends in Real EstateCBRE's biannual North American Cap Rate SurveyRCLCO's quarterly State of the Real Estate MarketMarcus and Millichap's annual US Multifamily Investment ForecastI am certain that all the ongoing info you need will be included in these reports!

Using it as a DP on a income propery you can deposit your rent checks directly into your HELOC account and withdraw your expenses from the same.  

If you're in a state like Massachusetts even if you're in the wrong and they DIDN"T put the money in a separate interest bearing account they're liable for triple damages. 

These are big ticket items that were planned for but if the planning took place too far in the past, a roof that was quoted and budgeted for $80,000 now cost the HOA $105,000 that $25,000 has to be made up quickly into the HOA bank account.

if you are one of the states requiring a separate security deposit account it might be a little different.