I’m also looking into other areas of the country, but that’s neither here nor there.Assuming all that, I plan on using the HELOC (500K-600K) to purchase multiple SFH or one or two multifamilies, functioning like a cash purchase, pay in full for each.

These units are less attractive and less functional for non-disabled people and harder to rent overall.

They do not care about the condition of the unit provided or functions as intended and meters their minimum standards.

Often times, investors tweak the #s to make the deal barely function (on paper) and do not leave any margin of error. 

I noticed when we did the inspection yesterday that neither of the smoke detectors in his unit were functioning. 

@David Khalfin, when you analyze a deal, you have to account for both operation expenses (what you already do) and capital expenses (renovations/big ticket items needed to have a functional, clean, and safe unit).

THEN, proceed to transfer the new, non-mortgaged properties into the CRUT so that when the trust sells the properties, the entirety of the gains of the $2.1 million is deferred.To avoid dealer status classification, would it be prudent to hold onto the 1031 exchanged property for at least a year before selling it?

Use the search function if a BP member previously was in search of a CPA.

Functioning oak cabinets, oak baseboards, and outdated fixtures don't "need" to be rehabbed and would qualify as move in ready in my mind.

We lived there with a non/functioning oven, a kitchen the size of 2 airplane bathrooms, for two years.