@Jeremiah Ellard IVThis appears to be a financial strategy question and not really related to the FHA 203k. 

Current lender is Chase and they do not offer HELOCs.No real interest in Home Equity Loans as they are not as flexible as a line of credit.Looking forward to the convo!

Leverage is one of the great tools of REI investing, over leverage is not.Never be forced to sell and you will achieve great financial results.Folks who could barely get by in 2007 made a fortune by 2015 with the same properties!

One question - which lender did you use to get a sub $100K loan? 

@Yadira ValeraIf you transfer property but mortgage stays in your name it still shows on creditIf loan is in the LLC, you may have to personally guarantee it so you would be required to list it as a debt on any new applicationsJust a fyi

I met a new investor, with contracting experience, at a local real estate meet up and he is interested in doing a flip using a hard money loan, renting the property out to his girlfriend, then using a FHA loan to buy it so he can live in it.

it's crazy to tie up a million cash to build a duplex. you can leverage that and build so much more units. ohio is one of the cheapest markets in the country to build and I'd pass on this deal if it's a million which I'm assuming it is of cash, with that amount of money you could be the majority partner in a 50+ unit deal with non recourse debt on a HUD 221d4 loan and have more than 50% equity. super low risk, urban core, non suburban deal in Columbus Ohio.

I’ve spoke to Lucas and ended up agreeing that in my particular circumstances - there wouldn’t be enough of a financial increase to outweigh the additional labor (Albeit as small as it would be).

If your financial analysis doesn't accurately capture them all, you are headed for DISASTER!

My aim is to not only profit financially but to gain in the process some intangible assets, such as project management skills, getting to know reliable professionals (i.e. realtors, contractors, designers, etc.) for the long-term, getting acquainted with the local market's promises and pitfalls, and basically adding some entrepreneurial muscle going into my next project.My strategy is to go small: find a second-hand apartment in a good location (I don't have enough funds for a GREAT location...); no more than 60-70 m2 (that's about 650-750 f2) to, among other things, lower renovation costs; 1-2 bedrooms, street facing and with a lift (if said apartment is above the second floor); with good bones, i.e., needs only partial renovation.