Account ClosedIs there a tipping point where you want to have a management company?

After the first $500 they would then ask you to join by taking out a $15k credit line that of course they said you would make back!

And any tips on screening a good tenants.

- Any tips or lessons learned for this type of project: I am typically a buy-and-hold kind of person and this is my first construction project.Thank youMo

It will show my loan account as active and current but mortgage company will report all credit bureau on monthly basis that I'm on "Forbearance Plan".

. - If you turn that equity into a line of credit, you could buy fund 18 SFH turnkey properties (@$70k) in Indianapolis with an average rent of $750 which would equate into over $13,000 per month of income.

Credit reports and eviction reports are a very important part of screening as well. 

Are there any good tips on how to better estimate reserve costs for new apartments?

The home has $100k in equity so my first choice was to just expand that line of credit which would give me enough for purchase and rehab and then I could do a cash out refinance on the new property and pay off the HELOC.  

Here's the numbers:Single family house in NE San Antonio. 1,456 square feet, 3 bed 2.5 bathPurchase price: $105,000Rehab; $20,000Hard money loan: $112,500Cash out of pocket (From HUD stmt):$12,500 (down payment)$2,250 (points)$385 (lender fees)$892.50 (title fees)$1,320 (insurance)-$2,001.34 (credit for unpaid taxes)Total: $15,346.16Actual rehab cost: $19,678.12Hold time until rehab and refinance complete: 98 daysInterest expense: $3,020.55Refinance loan terms: 30 year adjustable rate mortgage at 5.75% interest fixed for 5 years at 85% LTV and 1 point.Appraised value: $164,500Cash-out refi amount: $139,825Cash back in my pocket after lender fees, title fees, down payment, interest expense, insurance, etc are all accounted for: $5,389.50Now the place is rented for $1,200 a month and I figure I'll pocket about $200-$300 a month after expenses and mortgage payments and in the end, no money tied up in the deal!