Compare this to your total monthly costs, including mortgage, insurance, taxes, vacancy and maintenance.

I seem to remember that I didn't even have a business card until then either.You are VERY late to the game to be making these decisions. 

Insurance costs have been crushing cashflow on a lot of rentals as well - I've seen HOI quotes on $200k-300k houses come in as much as $200.00/month over expectations.

I’m talking about getting thorough with expense estimates, factoring in property taxes, insurance, and a cushion for maintenance.

But that is more of a business decision.  

BEST DECISION I EVER DID WAS MAKE MY WIFE MY BUSINESS PARTNER THIS YEAR FELT LIKE NEW BEGINNINGS LEAVING A OLD PARTNERSHIP AND STARTING A NEW ONE LITTLE  DID WE KNOW THIS FLIP WOULD BE THE WORSE THING WE DID THIS YEAR TALK ABOUT A HOUSE THAT WOULDN'T STOP SPITTING OUT PROBLEMS FROM SQUATTERS BREAKING IN , FROM THE CITY CONSTANTLY GIVING VIOLATIONS, WE EVENTUALLY TOOK A LOSS OVER 50K OUCH!!  

I will continue my due diligence process and you both have helped me gain more confidence with my decision to start working with Praxis.

Same answer whether you borrowed against your residence or against your rental A or against your life insurance or from your family or from any other source. 

When vetting contractors, check if they’re licensed and insured, ask for at least 3 references and call them, and get detailed written estimates and timelines.

I also have a friend that bought brand new construction, but had to shell out tens of thousands in repairs because the home wasn't built properly, the inspection didn't catch the issues, the builder didn't have a warranty on the property, and insurance didn't cover all the problems.