Also if that someone does miss something that's discovered during an audit, they get fined and not me (obviously a pattern will result in a severed relationship, so I keep everything compliant to the best of my ability so that final QC/compliance package is a slow ball I'm pitching their way that they can knock out of the park).

Am I the only one that finds an irony that having a felony does not have consequence of even affecting your housing choices yet I am suppose to be concerned about the repercussions of this ordinance.

Many investors calculate cap rate on SFRs, duplexes, etc when they are faced with choices where they need to figure out which one is the best.

It finally clicked with me that I don't want to be an Orthodontist, but a Real Estate Investor!

My final thought is to thoroughly tenant screen everyone (who is 18 or older) that will be living in the unit.

I was finally able to dig out an old bill (they only send 'em twice a year) and get the website where I can see payoff amount ($9k) and how long these semi-annual payments last. 

Including final calculations, the expenses, downpayment, loan etc.

I'm just putting the final touches on a HELOC and will aim to use something close to your Option A approach. 

Typically, 3 draws: when the job starts, mid-way through, upon final completion.Refinancing, as a part of BRRRR, happens after the renovation is complete and the property has "stabilized," i.e. all units rented.

@John Fitch Your house would not make a good rental at those numbers so if those are my two choices, i buy a rental and stay in the house that's paid off