Usually HELOC's have a 10-year draw period.

If you are planning to approach sellers that don't have their properties listed - you may want to see someone (preferably an attorney) to draw up a standard offer/contract that you can use; that way if you find a deal you have something prepared already.

@Paul Ko if you are drawing a blank on questions, google the question you just asked and many pages of good questions will come out in the search.

How expensive holding costs can be and what the terms & fees are for taking draws on your rehab money.

It’s my first property and I’m honestly drawing from my experiences as a renter, and in my area blinds, fridges and several other things are at the discretion of the tenant.

Couple things to note:- The VA Funding Fee goes up with each subsequent time you use the VA loan.

The LLC is a partnership 50/50, have an attorney draw up the document.  

People with 2 or 3 mortgage payments, all reporting current and never late, are almost always in the high 700s, often into the 800s.Folks with minimal credit  history because they think having their credit pulled 'hurts' their credit (without considering the relatively MASSIVE benefit of the subsequent on-time payment history, especially for installment debt [less so for revolving debt]) are in the 600s, low 700s.

Over time you'd expect the average to come down, for instance in year 3 we replaced the sewer laterals which bumped up that year's variable costs, but over time that should be a zero maintenance feature and that cost averages out over each subsequent year.Our 2nd property took 18 months or so to finally stabilize so the variable cost data is all over the place, as high as 60% in year one so it's hard to compare.

I have every intention of being in a higher tax bracket when I retire, which calls into question the value of the 401k.All that said, the silver lining of this pandemic is the relaxed rules on 401k loans, which I'm using to fund remaining rehab on a project instead of taking a draw against a LOC.