Depending on the extent of the rehab, you can hold off on the rehab until the unit is vacant and not increase the rent as much (ie wait to pay $50K in rehab for 2 years and not increase the rent $200).

And it depends is the long answer.

Otherwise all that taxes will come due in one year, not good.

You should expect a 10-20% return depending on the amount of work you have to do. 

There won’t be any taxes and your life will be easier. 

Much depends on what you give the CPA...........is it a shoebox full of paper or did you fill in their app?

@Nicolas DupuisIt will depend on the lender and if there are leases in place they can usually use 75% of that income against your debit to income.

Sure if you need to use opm or buy for tax reasons or believe in appreciation, that´s another story, that´s why we always have to ask ourselves why buy that real estate. 

I'd rather not ask my parents or family members to co-sign eitherSo the question is what would you do and recommend in my situation Have you spoken to the seller and said look, I am 19 so I do not ahve 2 years tax history.

That would be a good way of creating future opportunity and strength over a HELOC.It really depends how much equity you have and how much you want to use.