You have used home equity lines of credit to purchase investment rentals and want to know the best way to pay down the HELOCs.Between the two properties you bought, after expenses, you have $250 a month positive cashflow to use.What I like to do is pay down some principal every month with my positive cashflow.I use my extra active income from real estate commissions helping other investors to pay down the principal even more which just frees up that credit for me to use again.I know I can refinance the HELOC debt before it changes to principal and interest as it is just interest only payments as yours are.One difference is the cashflow, I have greater positive cashflow and could make the principal and interest payment in the future with the extra cashflow I already enjoy.I always get HELOCs on my income properties as well after purchasing them to pull out as much of my downpayment as possible.

I now am more selective about loan officers as well as lenders. 

Cash Flow & Value-Add PotentialA well-selected multifamily property could outperform the $2,400/month cash flow you’d get from paying off the townhouse, especially if you find a property with under-market rents or appreciation potential.

Its great that the seller is will to carry a note in a seller 2nd as well, that will help reduce your require monthly payment with the right lenders.

NAR considered job growth, financing, renter who plan to purchase a home, migration to these metro markets, number of renters who are planning to buy as well as homeowners who plan to move.

Do they have to go through eviction processes as well? 

Well done.My 1st comment is outside of my area of expertise.

I really would like an app or site that allows you to compile a list of properties with notes on the spot, and bonus points if it pulls up any info on the property as well. 

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

As the new owner, you’ll want the lease and your landlord insurance policy to take effect as soon as you take title to the property.Temporary Lease Considerations:While short-term leases can work well, leasing to a seller long-term often leads to complications.