Hi @Joe ChambersAlways go with the cash flow(in my opinion).

My intent is to stay in this home, 3 years of minor renovations and 16k in equity I plan on doing a cash out refinance, with that money I’m hoping to use on purchasing my first investment property for a flip or rental, open to opinions and thoughts, sorry for the hiatus.Chris 

So which is better in your opinion and/or experience, an LLC or a Corporation?  

Hi Liz,As with all online communities, there are going to be 11 opinions for every 10 people.

Being frugal is a way of life in my opinion.

I'd be more than happy to speak to you or look at the unit to give you an opinion.

I have always done conventional mortgages, so this area is new to me and I would appreciate more experienced investors chiming in with their opinions. 

In my opinion, the only guaranteed income are what's left on each contract. 

But in my opinion it doesnt matter if everything is gutted and new - you will still have to replace all the capex items again at some point if you plan to hold long term.

An improperly mitigated sewer backup is definitely a deterioration, in almost anybody's opinion.