It seems to me like the HELOC would be better for short term usage, such as repairs on properties, or flips, but less optimal than a traditional mortgage for long term buy and holds. 

For example, I purchased a list from List Source a few months back and at least 30% of the mailers were returned.I'm sure someone has a way around this or a way to improve their rate of returned mail but I don't want to spend the money to figure out how to optimize someone else's list. 

For example, I purchased a list from List Source a few months back and at least 30% of the mailers were returned.I'm sure someone has a way around this or a way to improve their rate of returned mail but I don't want to spend the money to figure out how to optimize someone else's list.

@ Gary Clisele - investing with a syndicator/lead investor is the optimal passive investment IMO.

Unless you are on the cutting edge of something new and you are able to streamline and market your website to keywords that are up-and-coming, or there are no competitors (not likely) for the words you're optimizing, it's a waste. 

Just something to keep in mind regarding timing your visits....might want to get there before Fall, lest you get caught in a long escrow and then might have to wait until Spring to find tenants at the optimal rent.

@Henry Lazerow has pulled some visually accurate comps with similar rent rolls.Figure out how to pull out the most amount of cash to throw into the next deal.HELOC: My lender has a 95% LTV HELOC at prime +1 with a 5 year draw period and 10 year repayment period.Cash out refiOnce the appraisal comes back and hopefully with more research I can figure out the most optimal next steps.

Kyle,I cannot speak to the Minnesota market, but here in Boston the optimal lease cycle begins on 9/1.

So here’s what I think you should to: pick two actual cities and optimize around “want”.

This is because there should be minimal deferred maintenance, revenue upside (rents are in-line with market) or expense optimization left.