I’m assuming you’ll pay your taxes through the mortgage so that portion you won’t need to be added in separately.Your offer should always compliment true market value minus an incentive of say 5%.

That portion I’m not as concerned about.

Also, i'm thinking about using a hard money lender in order to complete the "buy" portion, has anyone had experience with using hard money and how was that experience ??

In the loan portion I included cost of renovation and purchase price due to I would borrow the renovation money as part of my loan.

@James Mc Ree Unfortunately, a good portion of the bats are babies who can't quite fly yet.

If you are a DIY'er don't bite off more than you can chew on the rehab portion; it is definitely not as easy as it looks. 

Or you could offer them a free months rent if they would sign a new lease with terms stating that they would pay for a portion of utilities.

Some managers only work a certain portion of the city.

@James Masotti & @James Mercure I wanted to jump in here and talk about Airbnb. 90% of my clients use multi-family investments and put a portion of those units (1 unit in a triplex) as a vacation rental / Airbnb.

So you can use a portion of the HELOC for the down payment, another portion for repairs or another investment etc and do notneed to use it all upfront.