Math wise, it pans out.

1% is a rough guideline for napkin math.

If the math works, $750K could be solid, but confirm zoning, density, and build feasibility first.

if you do the math, vacancy will eat into your total rent collected much more than a price drop.

Vanessa, your math looks solid and it is smart that you are thinking about risk before jumping in.

Run your math conservatively and make sure you have extra room for surprises.

@Brittney Yang first red flag is it doesn’t sound like he’s that interested in long term holds but the primary reason for partnership is expertise in renovation and secondary reason is balance sheet and income to help get financing.Regarding reason one, I would offer to compensate him for his time in assisting you and have a very clear scope of what that responsibility is.  

It’s tough in the moment, but it keeps the math on your side.

The math does not math at all. 

Use it as a draw-as-needed bridge — low payments until funds are deployed, fast cash offers, and easy refinance once rehab and rent stabilize.Before pulling the trigger:Lock your exit early: confirm seasoning rules and target LTV for your refi.Stress-test rent vs. new payment to ensure cash flow works post-refi.If HELOC terms are weak or DTI is tight, combine small HELOC draws with a DSCR or rehab loan for main costs, then pay the HELOC back down after refi.It’s about flexibility and control — just make sure your exit math is airtight before you start.