The idea was to try and get a new fixer-upper to repair and do BRRR by leveraging the equity in the rental property. 

I figured I would have to let the house "season" for 6 months to a year so that I have time to BRRR - renovate it and let natural appreciation hopefully raise it to a level that I can get most (if not all) of my original HELOC out to replenish my stores. 

All investments have some level of risk, but multi family real estate seems like a better place for consistent gains right now than stocks or other investments (and I already have lots of exposure to equities through my TSP/401k). 

(only move in to mid to lower quality rentals) If they have bad credit, less than 3x the rent in income, criminal charges or new on the job that is entry level with no previous history of being in the industry or career- denialIt is preferred to have one person qualify on their own and be the financially responsible in these instances. 

Purchase price: $143,000 Cash invested: $36,200 Duplex upper/lower with 2bd / 1ba each

Duplex with upper/lower being 3bd / 1ba.

I know it will ultimately reduce the level of stress I have so I can focus on deal finding and renovations more. 

So no utilities meant I budgeted for new HVAC and appliances and some level of electrical and plumbing repairs.  

Purchase price: $3,987 Cash invested: $5,430 Sale price: $17,900 This is a portion of the listing ad:Wonderful, Level lot, Overlooking the 13th Green of the Flying L Golf Course * Build a home on your time schedule, or just hold on to it as an Investment, because they aren’t making anymore land in the Texas Hill Country;) Many Oak trees adorn this 1/4 acre lot and a good portion of the lot has been cleared of cedar * The lot is almost a perfect square, which is great to build on What made you interested in investing in this type of deal?

They remodeled in 2004 and there is no evidence of it being such an old home except in the basement - but even there it's the best century home basement I've been in - very clean, organized, dry and no smells.The main level is rented out to a local radio station (1 room) and tax professional (2 rooms).