Most likely when you apply for HELOC, your lender will pay for all costs, and you will not incur any out of pocket costs.If you want to do a "Cash-Out Refinancing", I think this is when you have to really plan things.

Depreciation is easy to figure, however it took me a while to get the double entries down in the books -- ie accumulated depreciation, cost basis etc.  

Also, make sure your accountant knows how to add the cost seg to your tax return.

The cheapest/potentially no-cost option is just doing public records searches and contacting owners directly.

I pay a flat fee depending on the funding size, but up to about $250k it costs me no more than $1,000.  

@Pietro GaglioUse this database to help find average cost of care in your particular zip code.https://www.genworth.com/aging-and-you/finances/cost-of-care...If you're in Clinton Township it's roughly $4200, however keep in mind that this is just average.

Management costs are about 10% of gross rents in our market, so that would be $7626/yr.2.

A contractor will tell you anything is possible but that usually comes at additional cost and time.Challenges - We had some hiccups in the beginning of the project that got our project held up in permitting and added 2mo to our project.

It costs about $3-5 per month per door… one of our favorite landlord tools by far.  

The loan application will ask about the assets you need for the purchase (down payment, closing costs, and reserves), and you will need documentation for those accounts (most recent statements).