my experience is that they dont like LOC's north of $500K, and really prefer $300K,  But most banks would be happy to give you 70-80% LTV portfolio loan, the banks dont like LOC's secured against real estate, because it ties up twice you available, so if you have a $300K line with no balance, the bank need $600K on hand to cover you, that becomes a liability to them, but if the give you $300K and amm it, its backed by the asset, so the bank doesnt need  cash on hand to cover you, now you are an asset giving them a return on the investment they made. at least thats how it was explained to me

If not, then when you go estimate for the rehab, bring your contractor or a partner who look for stuff in detail to cover your weaknessWhat's your story on the 1st syndication deal?

I put back enough in CapEx to cover the most expensive items to replace in the first year. 

You would be able to easily plan on 5% of gross rents to cover anything that comes up.  

They may not be the cheapest, but he goes the extra mile to cover my butt when I am doing rehabs, etc..

If one side is not rented I will need to cover about $350 a month out of pocket for PITI. 

@Carl Henriksen, we do JV's like this with single investors and as long as there is a good partnership agreement executed that cover's all of parameters of the deal then you should be ok.

Hi @David Zheng, does your condo rent cover the HOA fees as well as financing for your units?

The Association's policy may not cover a loss you're involved with.

We also have an engagement period prior to this that covers planning an design work.