I would be okay but probably have to come out of pocket for repairs.So if that happened AND I lost my job for an extended period of time, it would probably hurt a lot.

I am currently in escrow on a 4-unit property and am in the middle of the inspection contingency  period.  

If i do purchase rental property, is there a period of time I need to wait before a lender will consider any of that income?

First let us start by saying even know is it possible it will take careful planning ,education and execution.For the sake of simplicity we will assume you have $50,000 liquid cash to invest.

Is there a certain amount of time that I should wait before I reapply elsewhere for a HELOC or should I try and apply with various loan institutions for a HELOC within a short time period (i.e., 1 month period)3.

Not educated on your market but I would assume if your looking to grow your portfolio having roughly $ 155k ( after you pay 20K LT Tax ) a great jumpstart no matter where the market.

Hi all, I am in feasibility period and walking through every unit for physical inspection.

If the tenant paid mon/tues, it might not hit your account until the following monday since the weekend days dont count against the waiting period.

I mean I am an accidential builder.. having foreclosed on builders in the crash and having to finish the projects... so I have some very special education you only get when it happens to you and you have to figure it out.. was not pleasant. and it cost million or so.. but I got out.. and then I realized Hey since as the lender I am taking all the risk I mine as well just do this myself.so here we are about 150 plus new builds later and things are pretty good.Now to be fair my rock star in Charleston build a home last year then calls me and says OOPS house is 1 foot to low we have to raise it.. that's a brand new 700k home that has to be raised a foot.. cost 30k..

I've been educating myself quite a bit, but there is one thing that I have yet to see(possibly may be two discussions down from this one) talked about so I figured I'd ask it.