The balance would actually be $180k broken down and was/will be used for the following:25k - down payment on previous rental acquisition25k - refurbish our home - already spent50k - consumer debt (both cars and $15k in CC debt)80k - new primary residence down payment We'd actually cash flow $1,000 more a month with consolidating debt.Is interest only HELOC worth it?

To overcome the lack of financials without going to a private lender for the down payment and closing costs, I plan on wholesaling.

In order to do that I must organize my finances and wondered if anyone had a great excel spreadsheet they can recommend to begin creating and daily & monthly budget with the goal of maximizing my savings to have the funds for a down payment.

I have not received any paperwork past an addendum to a section of our lease stating the owner can designate in writing a new place to remit payment to, so nothing addressing a new landlord.

With taxes and ins. in escrow it runs about $2450.00 for the payment.

You will need to keep your payments as low as possible for that reason even though you will be losing income on that equity.

I have a decent budget for a down payment for several units and I was thinking of starting with something like the following...Unit type: Condo (only looking at turnkeys; not going to rehab - much)Asking price: $182,000 - would offer $160,000Fair rent price: $1,600/moProperty taxes: $2203/year; $184/moHOA: $223/monthMortgage (P&I): $635/moLandlord insurance (estimated): $20/moOptional considerations:Property management: $160/mo (10% of the rent; I am not going to use property management at first; I will manage it)Vacancy: $160/mo for as long as it is vacantRepairs: $80/mo as neededI obtained the optional numbers above from here:https://www.biggerpockets.com/renewsblog/2013/01/1...This comes down to...Worst case scenario of $138/month given vacancy, property management, and repairs.Best case scenario of $538/month without any of the optional considerations - so hopefully this is the profit I would be looking at almost every month.Thoughts?

I figured now I could double payments every month and what I was paying on these additional bills will now me excess money each month.

They were current on their mortgage payments, they had a lot of equity and their house needed no repairs.

Hello BP community,I am putting together a proposal for a rental property investment for a foreign national with 2 proposed financing options:30% down payment, the remaining balance financed or Cash purchase.Per my market research in this area, the projected gross income will be72K.