Thanks, Account Closed! 

I asked the customer rep what protects me if a tenant calls and says they moved but actually are on my dime; and they said oh there is no protection. 

Therefore, we will be liquidating shares of our Vanguard index funds (held in a general brokerage account) to make the down payment. 

Best way is to get a payoff on the account which i typically do during the research and consultation stage with the client. 

So the basic financials are $281,900 purchase price, $100,000 rehab cost, then when this is complete the income of the property would be $850 and no utility expenses.I am planning on using the BRRR strategy for this property.My wife and my personal finances is I have $14000 in savings, $600 in another account and I have a line of credit of $40,000 with and interest rate of 7.8%.I have not exactly officially offered this $281,900 but I want to but before that I want to hear any opinions and things I may not have thought of.

Aren't 2nd or 3rd position liens accounted for in the upset price?

Account Closed yes that is what happened.  

@Jeremy VanDelinder game a good point of reference as well with his account of, "... in Austin I was able to do that "full gut" fire house for $77.60 psf with my contractor..."

I held several jobs in the retail/wholesale apparel industry particularly in sales and account management. 

Retirement accounts are designed to be invested passively (i.e. rental property, trust deed, note fund, syndication, etc.)