Residential: Turned 3 units with tenants moving out at lease expiration and increasing rent to market ($2,850/month).

Residential: Turned 3 units with tenants moving out at lease expiration and increasing rent to market ($2,850/month).

I listed a rental property on Zillow and paid for premium exposure to increase visibility.

House hacking cash flow increases depending on how little space you can live in for a year (or more).I can't speak to Minneapolis inventory directly, but multi inventory is low in a lot of places.

Especially as maintenance bombs increase in there detonations, the opportunities to acquire from failed operators is at the door step.  

My wife and I earn over $350k a year in our jobs and all of that is now going to pay down debt.We have the option to increase our HELOC to unlock some more capital which I'm considering doing to try and get a good return on my money and pay down the debt faster, but given past experiences I'm not convinced it won't end up with more debt.What would you do at this point?

Nine  states are COMMUNITY PROPERTY STATES, where all property accumulated during the marriage, OR the INCREASE in value of existing separate property (property accumulated prior to the marriage), is considered community property which can only be divided 50/50, UNLESS the division is made to offset some other imbalance .  

I think your income easily justifies a common-sense, time-proven method: increase earnings, reduce expenses, save, and invest.

I would also increase your underwriting rehab estimate number by 15-20% since most renovations go over budget.

For amount, it would likely be in the $500-700k range.My expectations are to have a negative cash flow while living there, and possibly a slight negative cash flow after moving out (until interest rates lower or rents increase).