When you have completed $10k worth of work, you need to know how fast and how much work it is to get the draw that you need to pay your materials/labor and refill your coffers for the next stage of your rehab.Hope this helps. 

Also I will disclose that I do not know your area at all so consider anything I said just me throwing words on the screen that one little piece of data could make completely invalid any longer.Personally I am not a fan of renting out places with an HOA.

I have some great kiddos that have been instrumental in completing home improvement projects in the past and I believe it’ll be an easy transition into helping them become more financially conscious.

I got additional funds however, I negotiated with a contractor and got the project completed at a lesser amount.

The tenants parents cleaned the property completely and we were able to rent it a few months later.

I'm pretty excited to get this off my back.Before anyone comes at me with how this is not a wise decision given the time value of money and potential compound growth, just know I am completely aware that I could have invested this money at a higher interest rate and "put it to work" rather than paying down my 4.5% loans, but it was more of a freedom from this non asset-based debt that I was wanting to  get rid of. 

Strangely enough the seller had a complete remediation done & certified BUT the buyers child was still positive for lead after 3 months of living in the home.

One of my favorite books was "The Complete Guide to Buying and Selling Apartment Buidings" by Steve Berges.

But don't expect a complete history of their tenancy.

Our first rental we completely redid the inside (kitchen, flooring, bathroom, added a natural gas fireplace, paint, etc...) and choose not to replace the original 1960 windows.