.- $14,970 in change orders, thus far.At two years since lot purchase, loan costs have added up between closing costs, interest payments, and extension fees, as well. 

Find a reliable Realtor, as they can refer you to other key team members.

Make that rent payment out to you and pick up a roommate.

Does your mortgage include your property tax payments?

All told, cash flow will be a function of your down payment and your management of the property.FL tourism continues to flourish. 

One has no mortgage, their other has a HELOC for around $20k remaining and is coming to its 10year term that was established before placing with LLC.My predicament is how/best way to pull equity out of either property for a down payment for the 3 family that is valued around $450k.

Treat this property as a business and factor in all the associated expenses, including mortgage payments (if you pull a loan), maintenance, and potential vacancy periods.To simplify management and make this less of a hands-on job, I’d strongly recommend working with a property management company.

It will take time to build a dependable and reliable network of licensed professionals you can trust.

This reduces your housing payment and helps you build equity. 

Risks: rates go down and you have to pay a prepay of 2 or 3 %; you have to sell and pay the prepay; rents decline & you can't make the payment like any other type of loan; cost upfront a little more than conventional; need to find experienced broker licensed in the state where subject property sits; servicers are bulldogs.