I have a property that I share with my parents and my wife, it’s our primary home - purchased earlier this year - essentially the mortgage is split between my wife and I and my parents.

I’m proud to say we did it, knowing what you want, and if you have a spouse or partner what they want and having a vision that aligns with your goals is essential not only in real estate investing but in life as well.

If it needs as much work as you say it does, paying 95K will mean your essentially buying it a full value when factoring in the repairs.

Would be pretty amazing, to kind of have a pre-analysis filter tool.

I didn't see how much you payed initially for your condo, so can't really say how much your PITI is, but my advice would be to re finance out so that you essentially break even monthly, then take that & invest in a section 8 multi family to balance out your portfolio.

If you haven’t been to it already, you might want to check out the BP blog: https://www.biggerpockets.com/blog/The site has quite a few tools that can be helpful for new members.

This leaves you with approximately and essentially 22,400 liquid profits per year.

There are many questions to ask yourself such as, how active do you want to be in real estate investing [passive vs active], your time tables, how much money you wish to invest, etc --> this will guide you and help you determine the best route to take.As far as real estate management, for doing he actual repairs they essentially "mark up" the costs.

It is essentially a cash-out refi.  

HELOCs are very useful but they are not the right tool for every scenario.