But since that's where most of the questions come on BP, it's relevant to note and move on to brokerage models.You generally have four kinds of models.

Are you planning on sticking with the build-to-rent model or exploring other strategies for your future projects?

LTR or MTR so regardless of rent style you can go for the long, mid or short.Dayton, OH and Indianapolis, IN are two great cities that my California customers have found great 2-4 units over the last 2-3 years. 

Our total gut ran about $65k inculding all new drywall as the walls had an adobe style finish, plus we added two additional 1/2 baths.

But it was not passive.  3) alternate rent models such as MTR, STR, rent by room, student housing, etc.  

Starting an LLC after purchasing properties can help understand investing style, asset protection needs, and business growth.

(Assumable loan, Waterfalls/Hurdles, Ability to model a JV) I've come across "Synthesis" by Sharpline Equity.

Have the loan officer you are talking to model out both, so that you know you can close on the multi fam once you close on the HELOC.

Utilizing our collaborative financing model allowed for efficient funding, covering both the purchase price and any necessary costs associated with the resale.

They are currently almost entirely rented condo or townhouse style units, producing income.