But as far monthly payment you could easily buy a house in a cheaper location have less roommates and the same monthly payment or the same number of roommates and a lower monthly payment.

My $2000 also covers stuff that inevitably break under normal use - I had to replace a washer $700, a stove $600, a microwave $100, and a grill $400, all  within last 2 years, and paid close to $1000 for various service calls by electricians and HVAC techs and pest control. 

This motivation lead me and a business partner to start Raise the Standard Property Management.

With respect to paying $44k off on your HELOC, I personally think that is totally fine and a great start. 

Hello Mike, Syracuse and surrounding area is benefitting from an influx of tech companies and a huge chip manufacturing company, Micron, which is building a $100 billion fab over the next 20 years. 

McKinney is thriving, but so are other parts of North Texas, and a broader perspective could reveal other great opportunities.Here’s what I’ve observed managing a significant number of rentals in the area:Bedrooms and Layouts:3-bed, 2-bath homes consistently attract the largest pool of tenants and have the highest occupancy rates.4-bedroom homes have grown in demand, especially with the rise of remote work, as tenants look for extra space to use as a home office.Square footage is less critical than number of beds and baths.Supply and Demand:McKinney’s growth is driving demand, but the quality of the location matters greatly.

I talked to my lender contact and, as Kerry mentioned above, it's pretty uncommon that a traditional lender would offer a HELOC product on an investment property (non-primary home). 

I've calculated the lump sum costs to be $9,500 for buy and sell combined and a monthly reduction in cashflow of $347 due to the new loan and taxes.

So This means that in my not-so-hypothetical example, I could convert this 9bed 3bath Multi-Family into 12 Condos sharing 3 bathrooms, 3 kitchens, and a Basement.

These are professionals with additional training and a stricter code of ethics.