New to BP-seeking advice, sitting on cash and equity

[Kirk Bausch]

Hey there. I'd love to get some feedback from the group.  I'm looking for ways to re position my current properties or cash/equity into MFU or ???  I'd like to get on the fast(er) track to get my cash-flow to cover my expenses.

I have 6 properties. 1 is my primary residence (free and clear) and valued at $830k. I have a HELOC with 200k, untapped at 5%. The other 5 properties are all out of state investments (SFR). Current Value for all is 675K and equity @ 165k.

I have cash on hand@100k

Goal to cover expenses @ 6k/mo or 72k/yr

--I just got all my finances in affairs and debt down to basically nothing. At current rate, i can pay off all rentals within 10 yrs and cashflow at present value 6500/mo ---- which covers my goal and I'll have a pile of equity to 1031 exchange if I want. However, I keep exploring ways to take the HELOC & CASH (totaling 300k) and parking it into a MFU but after debt service, it's not that impressive of a cash-flowing vehicle unless I can get something closer to 10% cap.

The other thought I have is to aggressively pay down 2 properties and take 400k and use as down payment for MFU or another RE investment.  I can pay 2 down within 4 years and that might get me closer but.....not sure.

As you can see, I have resources and I'm looking to utilize them to get to the goal faster.  If the best route is paying off the 5 rentals over 10 years, i'll accept that, but I wanted to get perspective from more brains than me alone.  

Any suggestions would be greatly welcomed.

Have a great day.

kb