I vividly remember the countless hours spent driving to and from remote locations in rural Manitoba, alternating between early BP podcasts and Jim Rohn recordings.Over the next two years, I adopted an extremely frugal lifestyle, enabling me to achieve a 75% savings rate, sold my custom truck for a used Toyota, traded my new home in the burbs for a duplex (house-hack) in a challenging neighbourhood of Winnipeg where attempted break-ins were commonplace.

Borrowing from the equity must be done wisely or you will end up with negative cash flow and at high risk due to over-leveraging.NOTE: I use interest rates much lower than they currently are in 2024!

Assume a 10% (pulled out of the air number) interest rate on the heloc.

He would be safer in a savings account at that rate (I know what you're thinking... appreciation, though).

They also claim that their property management fee is 10%, which is true as long as the unit is occupied, but if you factor in the first month rent payment for placing a tenant and a 5% vacancy rate (about once every two years) then the property management fee is closer to 15%. 

Certainly beats driving to a rental at midnight when your guests lock themselves out or monitoring your guests turning the thermostat down to 65 degrees and frying your HVAC unit.Ultimately, the decision depends on your comfort level.

You can figure around $650-800 a door depending on your finish-outs.

Depending on what the seller is buying they may no need your flexibility anyway.

Depending on the situation that can start at $10K but likely $40K and up.

43608 is rough and out of hundreds of deals we have done over the last 10 years, never touched 43608.Only a few streets are decent but even then, I wouldn't buy in the area.It's the "bang on doors with a shot gun and bullet proof vest" type property management style heheEach to their own tho.43609 is decent but can also be a hit and a miss so will depend on the exact pocket.Wishing you much successThanks for the update on the area.