All other costs are likely incremental, but the increment sizes will vary, such as with a new teacher contract.

Finally, for the empathy portion... send him this link https://www.findhelp.org/ (enter your zip code and then enter "Rent"). 

Keep moving up in size.  6.  

We have one we own booking 4 months out in a mid size city on a river.

There have been things that come up where I am currently flipping ( just outside of Chicago) like needing architectural plans because I guess the size of the SOW but being delayed months is not normal. 

Great points all around — there’s no one-size-fits-all!

We go down to 50k loan size on DSCR if you want a lower ltv or up to 80% on purchase if you are looking to leverage the max.In general, you’re in a really good spot for starters, so congrats! 

That being said, even if its costs a bit more, finding a high-quality property manager with the connections and ability to manage the rehab portion can make things much simpler for you.

If you do decide to go that route, make sure you're underwriting the deal with the HELOC interest and repayment terms factored in, and build in extra margin for delays or cost overruns.There’s no one-size-fits-all answer, but my advice would be to treat your first deal like a training ground.

I do have a good real estate attorney that can handle the closing of the sale of the property, but haven’t been able to find a “qualified intermediary” to handle the re-investment/trust portion.