In the infamous words of Austin Powers:Well I vana toilet made out of solid gold, but it's just not in the cards now is it?

You haven't factored in future vacancy, rent loss, capital expenses, etc. into your equation, which would likely take your expense ratio to somewhere closer to 45-55%, or earning about $1000-1200/month before debt service.Speaking of debt service, you mentioned a $75K loan, but nowhere in your post have you mentioned your debt service payments -- they will detract from your cash flow and cash-on-cash return.Not saying this is a bad deal -- I just don't think you've analyzed it correctly to determine how good (or bad) of a deal it is).

Guess in the future you have to be sure of present and repaired values, repair cost estimates and be ready to pull the trigger.

Pushing everything up and reducing your future returns.Feel free to PM me if u want to chat.Cheers,Mark

It is important to consider your option and perhaps even your risk on an unsuccessful option into the future into your calculation.

That makes all work far more expensive, creates liability, and reduces future resale value.

That's about as much leverage as I want anyway.As far as HELOC's go, I'm assuming that most people want to lock up long term fixed rate loans, not have a ton of floating rate debt at whatever point the worlds' lenders ascertain that the future US govt cash flows available to somehow repay the spiraling debt and unfunded liabilities (a mere $100T or $1M per household), are woefully and absurdly inadequate.

Either way, look for one who will really look into the details and look for any potential future or hidden problems (i.e. the stuff I look for when evaluating houses).

Prices are way below construction costs and those are still cities people will still keep moving to for the foreseeable future.

Last time it was a sheep investment not the livestock but a gold-ish sheep statue covered in a few fragments mother of pearl and semi precious stones ... for 6k.