Quote from @Sean O'Keefe: Following - I'm based in California Hi Sean, can you give me more information on your company an d what services you provide? 

Happy to provide some guidance 

Any experience providing housing to travel nurses in Cleveland?

She reached out to me but does not provide services in Wisconsin. 

I have a long list of HELOC providers, and there are companies that absolutely will do HELOCs on investment properties.Typically need 40 to 43% DTI, FICO of 620 or higher.  

Let's break things down, hopefully, I am understanding everything correctly...Exit Strategy 1: Full Rehab and Rent IncreasePros:Higher ARV (After Repair Value): This strategy could potentially increase the property's value to $126,000, allowing for a higher cash-out refinance amount.Higher Rent: After the completion of the Scope of Work (SOW), the rent could be raised to $1,000, generating more monthly revenue.Long-Term Value: Completing a full rehab could increase the property's long-term value and appeal, making it more competitive in the market.Cons:Higher Initial Investment: The SOW budget is significantly higher at $15,750, requiring more cash upfront.Vacancy Risk: Asking the current renters to vacate for the rehab introduces the risk of vacancy and lost rental income during the renovation period.Longer Timeline: The rehab process and finding new tenants could extend the timeline before the property starts generating its anticipated cash flow.Exit Strategy 2: Minimal Repairs and Keeping Current RentersPros:Lower Initial Investment: With a SOW budget of just $2,500, this strategy requires less cash upfront.Quicker Turnaround: Completing minimal repairs and keeping the current tenants can significantly shorten the timeline to start generating cash flow.Reduced Vacancy Risk: By allowing the current tenants to stay, the property continues to generate income, avoiding the risks associated with vacancy.Cons:Lower ARV: This strategy results in a lower ARV of $110,000, which affects the cash-out refinance amount.Lower Rent Increase: The rent increase to $900 is less than what could be achieved with a full rehab.Future Repair Costs: Minimal repairs might not address all the property's needs, potentially leading to higher maintenance costs down the line.Financial Analysis:Cash Flow Considerations: Both strategies provide positive cash flow before reserves, with Strategy 1 generating $160 and Strategy 2 generating $148 monthly.

Here's a link to DPORhttps://www.dpor.virginia.gov/Boards/ContractorsMake sure the contractor pulls permits and provides warranty.

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It's then the landlord's responsibility to provide a crew of able-bodied folks to remove all the tenant possessions inside the house and carry them to the curb.Once the move-out is complete (and presumably the locks have been changed), the deputy may remind the former resident that they may not re-enter the house. 

They will be able to provide you with a detailed assessment of what repairs and updates are needed to make your trailer house rent-ready while ensuring everything is up to code.A contractor with experience working on similar properties will help you identify the mandatory repairs and guide you on how to maximize your investment efficiently.