I keep telling people I know what I am talking about...

G'Day Carlos,Personally, I think it's a recipe for disaster rehabbing from out of state.IMO you would need deep roots in the specific market you are looking at investing.Or years long experience of knowing the who, what and when in that specific market.I only know of a handful of folks that can do it successfully and even they have been at it for many years and probably still loose money on rehabs to this day, no matter how integrated they are with everything and everyone.A good resources for pre-purchase, during rehab and after rehab's is Inspectify.Always get eyes on site before buying a property or processing a progress draw for the rehab.Much success

.🔑 About Me: My passion lies in connecting with people.

On the other hand, you can make money in any area, even areas with no growth as there are still people that live there, even if the population is declining. 

Inversely if you have a $100,000 5% 1st mortgage and want $250,000 you should go with a cashout mgt.Be careful, *some* lenders will discourage HELOCs b/c they make less $ on them or only offer them to get people's foot in the door.Quick Example Scenario. $250,000 1st mgt at 4% $1200/mn$100,000 HELOC at 10% - 12% $830 -$1000/mnor$350,000 $7.5% - $2,450/mn

I would never recommend people mix finances and /or share mortgage when they are not married.

I do see alot of people searching for STR'S with private pools.I also see people buying multiple pool cabins, so they absolutely seem to be paying off.Many of these are indoor heated pools that can be used year round.

I’m not sure how much personal debts matter since I see a lot of people recommending investing under a LLC.

On the other hand, if the renovation is a true gut with plans and permits, you will need an architect.

Welcome to BP Michael,These forums are a great place to learn and meet people, whether you're just starting out or you're a seasoned investor.