you can separately meter the units and have them pay water as a way to cut your expenses. then I would make sure the exterior would draw the eye and interior focus on the money areas (kitchen and baths). functionality of the units is another route to take on the interior.

I am looking in the Philly area for some investors, new to this as well, and they are planning on going the tax lien route.  

If you go this route, I would focus on a single property - the one which is costing you the most in interest and/or the one which will yield the biggest free cash flow once paid down - until you reach any prepayment limits imposed by your financing terms.Additionally, if you are able to switch your payments to {accelerated} bi-weekly (26-payments a year) from monthly, that alone will trim your amortization and total cost of borrowing.Another thing I frequently do is to take-on variable rate financing on a property (which is usually at a lower interest rate than a fixed rate loan ... by as much as a 1 pt), but set my payment as though I have a fixed rate loan.  

If the paid off property can support a $150k mortgage, I'd go that route.

Not sure on the details or location yet, but does that sound correct for Depew and a requirement for a 3 unit?

They will know how to get rid of these tenants legally and correctly (probably through cash for keys), and will find qualified new tenants while you are on vacation.

So if you get a HELOC for $50k and only use $20k to purchase another property you are only paying interest on $20k.If you go the cash-out refinance route you are paying interest on the entire loan from day one.At a 75% LTV based on a $270k ARV you would have access to $202k minus your $153k debt leaves about $50k.

Does anyone have any experience with going this route?

Any suggestions/ideas/route from some seasoned investors would be greatly appreciated.

Unfortunately he believes the current numbers are now correct so if I change contractors it will not resolve the fact that there will not be enough money to complete.The bank just informed me that they will not allow him to take from other line items to pay for his current overages.