You're using a company to manage tenant phone calls/inquiries and then send in vendors for repairs.

You could say you want something within a $$ amount but if it's going to cost more then you miscalculated the budget. 

You can then get financing either through refinancing the entire debt stack or getting a second mortgage with the same bank that did the first mortgage.  

Learn what a good one looks like, then take your time to find one.

Then they receive the money and you still keep your money and earn money on it.

Some people need 2% above the borrowing cost (8% cost of hELOC you gotta then make 10% + etc) and others will want to double their cost of capital or 200% so it depends.Everyone's going to give you their anecdotal experience or what their preferences are so its good to hear it all and determine your own.

If you foreclose and take it back then you can resell it later but if you are owed $25,000 and it sells at foreclosure sale for $40,000 you don't get paid $40k.

Then there were some issues with the inspection report that ruined 3 contracts prior to me getting involved.

More then willing to share info with anyone interested.

happy to talk but your location may  be different then where I used to do student rental.