That way if something happens down the road you have protected yourself.

MISTAKE#5 Poor project management should have been identified and fixed immediately.

You identified one great option and there are a couple more as well1.

If you don't have another property identified (or aren't currently wanting to add properties to your portfolio) then I would payoff the HELOC. 

I believe she has tried to identify tenants that could be house managers and reduce the rent for them. 

Bad tenants are scary but if you do a walk through before they move in that clearly identifies the condition of everything and have them sign off on it, they will be legally responsible for any damages.

What Christine was able to do was to work with the investor on the buy side to not only identify properties for purchase, but review properties that were presented by wholesalers in order to ensure that the investor’s minimum return was likely.

If you or someone you know is interested please do not hesitate to reach out to me.Some information:-Cape cod style house-Located near major highways/road such as 287, Rt 22 & Rt 28-There are about 5 train stations within a 7 mile radius, including 2 within a 2 mile radius-located about 15-20 minutes away from Rutgers University- New Brunswick-also located near Raritan Valley and Middlesex CC-There is a partially finished basement where I will be residing-washer/dryer included-rent will be $675/person-estimated utilities are $60-70/person which will include the following:---electric/gas = 40---water = 5---sewage = 10---trash = 5---internet = 10

Once you have some of your basic focus areas identified, I think you will have a very easy plan moving forward and should be able to identify the markets that best fit your metrics.  

I’m down the road in Wilmington DE on Concord Pike if you ever want to chat more about them.