The replacement would cost me up to $6000.

Please let me know what you think.Property SummaryForeclosure3BR, 2BA, 2190 sq ft2 acre lot$65k asking priceARV of $165k (possible), most likely $150kNo garageSlabVinyl sidingWell & SepticProperty is owned by HUDLed based paint noticeRepairs NeededSpot replacement of vinyl sidingFlooring throughoutBathroom remodelsKitchen cabinets are good, but need to be paintedPossibly roof replacementFacia board replacement all aroundGoodHouse has a bonus room, which can be converted to a 4th bedroom.Windows are goodFlat lot, big lotBuilt in 2005, so pretty structurally soundRisks/ConcernsPossible HVAC replacementHas a well.

I've thought about finding a local handyman I can leave keys with or even just replace the lock on door with a keypad to avoid lock-outs all-together, for example.

That means that one AC replacement is a years net revenue. 

My end goal is to replace my income and to become financially free to spend more time with my young child and provide her a business to work in, learn and then own when she gets older for her own independence. 

My original instinct was to use that money to pay off my second mortgage but then I heard of a first lean HELOC to replace my second house mortgage and in addition as well getting a reverse mortgage on my primary residence and use that money for investing in rental properties.

“If you are going to do it, do it right.”Be creative and conscious of everything that is salvageable.Refinish and sell/ donate old fixtures.Repair over replace if possible.

It's a newer home that was built in 2018 so hopefully it will be a while until I'd have to replace those big CapEx items like roof, HVAC unit etc.

Purchase price: $270,000We ended up replacing the kitchen countertops with granite, replacing the water heater, and painting some of the walls before leasing it out.

The plumber recommended a sewer trenchless replacement.