This makes daytime investing hard on the sleep schedule but I cant expect someone else to hustle to fulfill my dreams.Currently playing: Grant Cardone's 10X Rule and it changes my mindset completely!

Maybe play dumb a little "I don't know if I'm in the right place..."

Lots of factors at play here... how many units are you looking to buy?

In the beginning, you could make some incentive bonuses or other ways to push the work.

I am not sure what happens to that HELOC but that is not a game I would be playing.

Once I take my dog for a walk, play with him, do some cleaning, and sit down to eat dinner, I'm usually brain dead for the day!

Hard Money Lending (HML) for this purpose.Conventional LendingWill Require a Down Payment in all scenariosWon't allow a rehab budget on a duplexDoes have a 30 year fixed rate optionMight not approve the property at all if it's in very rough condition or if 1 major thing is wrong (like a foundation or a roof)Can be cumbersome, 30 days to closeLow interest rateHard Money LendingWon't Require a Down PaymentWill allow rehabShort term money only (so you have to refinance if you are keeping the property)Doesn't care about condition since you will have the rehab included in the loanSuper easy, can close quicklyHigher rate and higher feesSo here's how this all plays out:Conventional lending - will require 25% down payment on a duplex investment property ($34,250 based on your numbers above) + closing costs ($7,000?) 

I'm a high income professional and so is my wife, and we are looking into a vacation rental purchase that will serve for both tax depreciation (cost seg study and bonus depreciation against other income) as well as hopefully break even or even provide some positive cash flow going forward.

And within this program is the Rapid Re-Housing program that can pay a lease up to 12 months in advance, pay double the security deposit, and pay the landlord a signing bonus of up to 3 times the monthly rent.  

So its a long term play for us.