I'd like to dig deeper into why the naysayers are opposed, and what details you supporters specifically refer to. 

Here are the details I have now: Purchase price $100,000 15% down $15,000Improvements $15,00020% down $3,000Your total loan amount is to not exceed $97,000.

Just PM me for details. 

Details in MLSUnits: 6Taxes: $5874 (annual)Gross Income: $48,600 ($675 per month)Net Operating Income $38,838Total Expenses: $9762Vacancy Rate: 5%Asking Price: $449KOwner pays Trash & Water______________________________________________________________Based on the expenses I am assuming that the property management is completed by the owner and that they are including ~$4K a year in insurance.I ran the numbers in my own Deal Analyzer and I added:5% of Effective Gross Income as Maintenance Expense 10% of Effective Gross Income as Property Management ExpenseBumped the vacancy rate from 5% to 10%Insurance: $3000 (annual $500 per door)Water: $3240 ($45 per door - typical in city)Trash: $1,800 ($25 per door - complete guess)$12K for improvements ($2k per door)20 year note @ 5% with 20% down (assuming full asking price)2% Closing costs______________________________________________________________My numbers show a Cap Rate of 5.7%, cash on cash return of -5.12% and -$1,668 of annual cash flow. 

My question is is it wise to keep the HELOC at prime plus .5 a point on initial down payment, and renovation costs estimated to be around $35,000?

I will have to look into the details just in case it makes sense before i completely rule it out.

The best way to estimate work is seeing the properties first hand. 

@John Menton do you have any details on the unit?

@Cody BurkeI turned in the contractor estimate with the loan application. 

I estimate that I will max out at 15 properties when all is said and done.Thank you,Matt