Hi Kwanza,I guess it's subjective and depends what you compare it to, but Maryland and Baltimore City in particular are very tenant friendly.Baltimore has a wide variety of multifamily options, but you need to have a really clear understanding of Baltimore and how much it can change block-by-block.

This creates a negative initial position.

Its a growing market, and a great place to invest for flips and rentals.  

It sounds like you have a good start already.

Is there a minimum balance required to avoid fees?

How's it going as a newer agent?   

We are planning for a HELOC to support our purchase of a new home.

If you're willing and able, I do recommend the "house hacking" strategy which is just a fancy name for buying a rental property and living in one of the units, because you'll get very favorable financing - an owner-occupied fixed-rate 30-year mortgage.I'd also say, analyze that property as if you won't live there and it's a pure rental, and make sure the property is still cash flow positive if there's a tenant in your unit because then you'll know if it's actually a good investment.And when you analyze it, include payment of a property manager in your #s because if you don't, and doing so would make it go cash flow negative, then you've just bought yourself a job because you literally can't step away from managing it without losing money.

This deal was brought us off-market by a friend.

Nate, you are going to build a lot of wealth.