Cost of construction is high and you may be paying extra to match 2024 building codes rather than a remodel/addition.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

(Screening quality, fair housing act compliant and non-discrimination) 4) and finally, if you’re splitting the equity you’ll really get 1/2 of the 16 vs 8% downpayment (4%) back when it’s split. (12.5% each.). 

@Brandon Malone the only reason to consider a tenant proposed upgrade is if you were planning to do it at some point anyway (and I am saying consider, not necessarily approve)This isn't something I would do unless of course it is a high end property and there is essentially a chefs kitchen where the expectation would be a gas range.

I've always thought investing via HELOCs were risky, and now only more so as the rates are typically adjustable and would not be very high. 

I had high hopes because its seems so much easier to do this real estate investment with a PROFESSIONAL. 

Because he heard the property had 'high ceilings'!

Brokers are more for investors that are looking to scale and obtain various kinds of financing to shop around for.I'd highly recommend looking at the companies website and their reviews.

Is there a big quality difference between using a spray gun and traditional rollers?

A great option for a channel manager - I would highly recommend the software.