You're gonna want to be around $400k purchase price to be in a good area too.

Hi @Briley RoeNice to hear that you made the first step in investing.Looking at the deals, I would need more information, but per the data that you have, the Cap Rate is within a good acceptable amount.Cash on cash is low, but depending on the area that you are the appreciation will catch up.

congrats on your success and future success to come. would love to connect

Sewer- Septic or sewer lines. 

Unlike Robert K and many on this site, I judge a property based on total return.  

_______________________________________________________________________________Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

This is because I make good decisions on the front end by doing my due diligence.

I would focus on those locations.

Both properties have a substantial amount of equity that’s essentially sitting idle.Would it be a good idea to tap into this equity (through a HELOC, cash-out refinance, etc.) to fund future fix-and-flip projects or purchase additional rental properties?

Where I see the biggest pitfall however is, in practice, you may run into trouble with the appraiser on the new property re-fi if you're not doing any improvements.