With that being said - you need to decide how long you're willing to wait for appreciation in some of these areas.Some areas downtown, like directly south-west of downtown, are heavily saturated with fix-and-flips - so you might have better luck in the outlying areas once you try to sell.

I never dreamed such opportunity existed on the west coast, especially at the price you got your building for.

Gotta start with a clean slate, as @Kenny Dahill states.Here's an excerpt from my lease that I picked up from @Nathan G. some time ago:We are not obligated to make repairs if you are delinquent in rent payments unless an emergency situation exists.

My questions is, would you add her to the existing lease via an amendment of some sort or would you allow them to sublease and not mess with the current lease? 

We used our existing HELOC for a 100% purchase of our latest rental property towards the end of last year.

My question to the group is in my area we are saturated with "Flippers" and have a very strong market that is not providing the most deals for rehabs.

I have an existing HELOC with PNC Bank we set up about 6 months after the property purchase with a $12,000 limit.

Teardown/rebuild 950 sq foot, 1.5 story existing farmhouse on site (Rt 128 area) with solid foundation.

But building a new one is rarely cheaper than buying existing.

The market seems pretty saturated currently and it's been difficult finding the right one!