I am looking to get a LOC against my portfolio of 12 rental properties that are owned free and clear.  

Feel free to reach out with any questions about flipping and wholesaling.

After talking with the seller, Furnace needs to be replaced, part of the roof is 3 yrs old/ most of the roof 18yrs old, plus back taxes of around 5,000. 

You’ll be lucky to get this as a newbie.These total $188k and don’t include property & title insurance, closing costs, property taxes, utilities, staging, and all other misc. costs

it’s a closed system and  no clue what’s happening behind the scenes.they have unpaid tax bills on their properties and they have taken loans on top to pay those bills because the property revenues can’t cover those bills for example this one https://www.lofty.ai/property_deal/4318-Clybourne-Ave_Clevel...

Factor in the cost of property insurance and taxes, as these expenses can impact your cash flow.

Offer free services or models of sharing that data to other brokers at a price that do not equate to highway robbery.  

I know an investor in Minneapolis that specializes in this feel free to dm me.

Good luck on your journey and feel free to reach out if you ever need any guidance or advice.

Option 2: Purchase additional properties and build portfolio I know that there are some tax implications to no having the mortgage payment to consider.