Also, not sure if you are budgeting for CAPEX/Maintenance/Vacancy/Property Management, but that is an additional 15-20% of gross rents in general so that makes this deal even harder to pencil out on paper when you are financing almost the entirety of it via HELOC or Mortgage.Now, if you went with option 3 and could househack the home, use the first property that you are taking the HELOC on as a rental and either break even or cash flow positively, and could subsidize your personal living cost by living in the new SFH and renting out the other rooms as planned, this could be a viable solution.

A sixty day notice of termination of tenancy is all that required to comply with State law.Depending on location, there may be additional tenant protections in place at the County or City level.

Feel free to send any additional questions.

Working with a lender who not only understands but can communicate this trade-off for your situation is essential for not spending too much money up-front but also not paying too much each month.- Is what’s publicly advertised (for example, interest rates are at 6%), the best available terms a borrower can get?

Additionally if you have a good PM Company, then you don't have to worry about that being an issue.

Hey @Cameron Enger,It is true that there are no additional permits required when renting for longer than 30 days per stay in Colorado Springs. 

If it's a fix and flip SFR or Multi Family, then the DSCR won't ever work, so you'll be relying on the global cash flow of the investors to support the payment, in which case you have to have a good case for that via personal cash flow of the investors, liquidity and/or additional assets to pledge as an abundance of caution.To the question about the LLC's financials on a new entity, for real estate it's a non issue as the asset is what is generating the cash flow to pay back the loan not a new 'business' in the traditional sense.

I'd agree here that seller financing can be a great option to get additional properties with low down payments.

You don’t want to spend all the money to convert a garage just to have it be illegal.Structural integrity: One of the most important considerations is the structural integrity of the garage.

Furthermore, Intel is spending 20 Billion dollars to build two semiconductor plants, and many more great things presently and coming in the future.