First let us start by saying even know is it possible it will take careful planning ,education and execution.For the sake of simplicity we will assume you have $50,000 liquid cash to invest.

Others simply don't care, they'll take the offer of a couple months rent and leave.I don't think the new ONtario rules apply here as you're not asking them to leave for personal use, so it's up to you and your tenant to decide what's fair.Your #'s look pretty good, I rarely find a true cap rate around 6% so if that area goes for around that cap rate you're already in good shape.Even if a few of the tenants don't agree to move right away at 5.8% cap your're still in pretty good shape and you can slowly work on it.

Banks usually don't care what you use the HELOC for so long as they are protected in the event of default

In my day job which is in sales I'm careful not to offer tax advice, financial advice, or promise or guarantee any specific returns because I'm not a CPA, MBA or financial advisor.

Be careful in Fitchburg.

You will also need to designate an "operator" that will be in the area at all times while your unit is being rented.There is more but like I said Waco's planning and zoning page should take care of you.

If you get the results you expect from them, go ahead (be careful with the rest of the terms of the loan: ballon payment, maturity, hidden feees, etc.).

Many "Mom n Pop" investors care about their tenants and want to pass them along to ethical people.

@Kurt Kwart  definitely working there has helped me understand the concepts and learn the jargon faster.

Phone # (two-zero-three )684-1194.All right, people, let’s make some deals, but let’s be careful out there!