I would suggest you use a tool here or develop a spreadsheet that will capture all expenses and income and then calculate income based on lending terms, down payment, immediate out of pocket expenses, and closing cost.

Definitely take advantage of the Forums, Tools, and Blogs areas to continue getting closer to taking action.

Even the rental property tool has a range of 7-12% of gross collected rents.

That said my HELOC limit would enable me to pay for the target property in full.So if I were to utilize this tool, would I be able to do a Cash-Out Refinance once the renovation period is complete?

I highly recommend using the awesome tools provided here on BP to learn the basics of analysis and underwriting.A few tips to get started and your continued learning:Find and connect with other BP members that are in your area.Set up keyword alerts to be notified of the topics that interest you.Read Beginner’s Guide.Check out BP Podcasts.Find upcoming real estate events and meetups near you.If you'd like to tag someone in the conversation, type @ followed by their name and then select the name of that person that appears below the comments box.

This will help you gain a better understanding of the loan process, what lenders expect/look for, and the tools that they have to help you succeed.

Delayed financing is an important tool in real estate investors’ arsenal.

One of the tools I feel is critical that makes or breaks an investment property is a spreadsheet looking at the entirety of the financials.

Understand that although larger repairs might involve more steps, more time and more tools, houses are just collections of parts and you'd be amazed how much can actually be fixed with five minutes and a screwdriver.

It will be difficult for you to find an “off market turn key” deal in the traditional sense of cold-calling, driving for dollars or whatever other creative lead generation tools that exist for finding motivated sellers.