Speaking just as an investor, I still would shy away from a HELOC for the simple fact that I am not certain how quickly I could pay it off/down. 

The city will fine you if your lawn grows out of hand. 

On one hand, he did the back end to bring me on to the deal, and will manage the reno and property and it will be under my name so all tax benefits will be on my end.

Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bp The second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.

Hi BP Friends,I'm doing my first 1031 Exchange, and I need some simple help from those of you with experience.The house I'm selling was titled in my name.   

Been wanting more information about this market from people with first hand experience.

Many tenants will stay during the inspection and you will get to meet them, shake their hands and see what you are getting yourself into.

It should be simple (or so it seems).

and if you ever need a helping hand im always willing to lend one man. best of luck to you david

For example if it is a new construction it would have to meet the current building codes to be a bedroom, on the other hand if you are getting a VA loan it would have to meet their requirements for a bedroom.