From what I read of the 1st 2 sentences, it would appear @Justin Bushis now in the process of getting a HELOC on their primary property.

It seems like going over budget is one of the primary things that cause investors to lose money on their first deal. 

Your expenses on your current primary property are going to consume any cash-flow of the monthly rent, especially over time.  

My primary source of income/employment has nothing to do with real estate.2.

My primary residence was just on the "cusp" of this change and I decided to have the entire system replaced.

In a few years I would like to sell my current primary residence and upgrade to a larger home as my family grows.

I've been interested in REI for a number of years, but always thought that you had to either have money or go with traditional financing to do it.

If the primary borrower can't pay the mortgage, the noteholder will absolutely protect their own interests and go after the partner regardless of whether or not their name is on the deed.This situation happens all the time in divorce cases where one ex-spouse quitclaims the house to the other but later finds out they can't qualify for a loan because the the mortgage is still under both their names and is killing their DTI.

Not saying there aren't properties where the numbers work, because there are, and i'm interested in traditional rental properties as well.Dick - I would appreciate this contact if easily available, I will message you directly.Anyone have experience/insight into the sun lakes area?

Unfortunately what I heard in the post was a lot of ignorance and not recognizing the key deficiency as responsibility was deferred unto this GC you hired, which he dosnt hold any responsibility, you do.The primary and 1st mistake was the entire premise for hiring your GC, selecting your flip GC by lowest $$$ alone, come on really think that thru.