I also have a $175,000 line of credit ready if something catastrophic happens.

I used a HELOC on my primary residence to purchase a long term rental investment property.

All depends on state and when that was recorded as if it was in foreclosure it was probably a judgment on recordDid you not review title or information before buying this at auction?

It also depends on the extent of the foundation damage and repairs, I have done minimal slab crack repairs on flips and disclosed to buyers, without any issues, and I have also done more extensive slab repairs with plans, permits and inspections, and also disclosed to buyers, without any issues. 

When have you tested your PMC’s processes- Click on whatever links you find on their ads to schedule a showing and start an application to see what happens!

I would love to hear your thoughts on such a strategy, what to look out for?  

I'm considering building a portfolio on single/duplex homes in Oregon where my parents can be my managers - and I am up there 6 times a year.

I am planning to use this business (SMLLC)  to build the houses on my lots.

If you have any feedbacks on whether having brick and mortor bank is necessary would also be appreciated.thanks

I appreciate your concern regarding the impact of Tropical Storm Debby on our area.