PM checked with tenants on the subletting and they claimed that these are the relatives who are students here.

What made you interested in investing in this type of deal?

Would enjoy hearing feedback and advice on what beginning steps I need to take to get this thing rolling. 

I am currently in the processes of getting my real estate license and don't have accesses to the MLS, despite this I still want to practice doing comps on housing in my area to better understand what makes a deal great.

I'd urge you to reconsider this deal. 

So all in I am at $240,300 , hard money I am factoring in as 15% rate and since I’m borrowing 840k for let’s say 6 months , I’m factoring in hard money costs at 63k for 6 months So now all in I’m at $303,300 ARV should be at least $1.3 million (conservatively) I would cash out refi with a dscr loan and get back 975k , I would pay the $840k I owe to the hard money lenders , leaving me with 135k , and I would pay myself back with that money , and since I would have $303,300 invested , I would pay back 135k to myself leaving me with $168k invested in the house with a equity position of $325k , the actual house number are such after the cash out refinance: This house has 2 units and 3 accessory units Mortgage : $7100Heloc payment : $1300Total = $8400Live in 1st floor Rental income 2nd floor : $30003rd floor: $1500Accessory unit 1 :1200Accessory unit 2 $1200Income : $6900 Net : negative $1200I also already have a house that’s breaking even , but I’m living in one unit and if I move out that house would become positive $1500 which I can put toward the payment of one of the other houses .

Thanks for sharing this option.

With a HELOC, determination, due diligence, and a bit of luck, I am confident that I will achieve success in this REI.

Typically, the easiest way to verify this is to request additional documentation.

I’m an REI located out of Bandera, TX, and would love to connect with other investors in this area.