It’s oddly structured and I need to sit down with a professional tax planner to map this all out i guess

House is assessed at $210k, but, reality is The house needs some tlc - flooded basement, hoarder house, no structural issues, some mold from basement flooding, electrical issues.  

But from reading the replies it might be a combination of method and market/supply issues.

Loans are structured differently, etc. 

I provided a gift basket which contained the following: (call me crazy) Laundry Basket (new to hold the items and because no washer/dryer in unit but onsite)Small Tide Pods package (to get that starter load going)Cascade Platinum package for dishwasher (probably a years supply cost like $10 at Target)Swiffer new for laminate floors to keep clean ($20?)

I'd take a hard look at any real capex projects as mentioned above (plumbing, electrical, structural) otherwise looks like a good BRRR project.  

@Jay HinrichsYeah, its just a LO assignment structure.

Short answer: There's not much of a difference unless you have a separate entity holding the properties.Longer answer: There is some additional flexibility in how to structure a commercial line of credit. 

The note can be structured as secured or unsecured. 

I have walked all 4 units and plan to have the basement inspected along with a structural and termite inspection.