While it's a year old, the 137% equity growth from 2014 to 2022 is quite nice. 

This single-family residence spans approximately 4,250 square feet and features 5 bedrooms and 5 bathrooms.

When it comes to analyzing properties, I’ve developed a specific checklist to make sure the home fits both resident needs and operational goals:Square Footage: Ideally, at least 2,000 sq. ft. to ensure enough living space for residents and staff.No Stairs or Pools: It reduces liability and keeps the home accessible for everyone (this is just my preference).Corner Lots: I love corner lots because they often provide extra parking and outdoor space—both of which are critical for families and visitors.

What happened to our “built in equity” touted by Wagner, who sold us on a purchase price of $225k?

I had 2 or 3 called.Now again keep in mind I had zero interest in holding these as rentals and I ONLY bought homes that had significant equity for me.. mainly all pre foreclosures..

Investment Info:Single-family residence buy & hold investment.

Is it better to keep adding equity by doing work on the houses while I'm renting them then refinance to recover the initial down-payment to reinvest into another property or to pay down the heloc?

That's being highly weighted through owning debt and generating alpha through gold, alt allocations, little US equities, and little emerging mkt equities.$1mil and getting 75% return on it to get net $40k/monthly, that'd be quite the feat.

We have been told that fha will not cover this since there’s are two residences on the property.

Starting with an owner-occupied duplex is a smart way to build equity and gain experience.