Many that come to Simple Passive Cashflow are questioners.

6)  Is there a simple electronic process for the tenant to apply?  

A Heloc is subject to unpredictable increases by the Fed Reserve anytime.

I doubt it's that simple...

From a strict buy and hold for passive rental income i think it is a pass strictly based off these numbers:your rental income is 1850Your listed expenses are 888if you finance this for around 148-150K mortgage going to be paying around 800 a monththats 1,688 leaving you with 162/m cash flow without a property manager(assuming you do the work yourself)**Maybe look to move the utilities onto the renters to increase margins **CASH on Cash is about 4.8% to manage this yourself are razor thin numbers. 

Another factor will be the size of the possible rent increases before and after repairs.In our crazy market I would not be surprised if you could raise rent more than $100 a month without repairs.What is the vacancy rate? 

Per Dawn statement : sounds like I need to start working on rent increasing in 2018@Bob E.  

Jason.Congrats on the purchase.I think you should ask them to sign a new lease and that you're looking for an increase in the rate.

Isn't it simple when we allow it to be :)

Too vague of a description to offer any real value in estimated cost and the cost of construction is increasing significantly right now in our market.