A realtor who understands the numbers can help analyze the property’s projected cash flow and ROI, plus they might know local leads from probate attorneys or even “drive for dollars” efforts that can reveal off market gems.

I'm struggling a little bit on deciding the best agreement to make sure I can get some cash flow, payback the HELOC, and not drive the new mortgage up too much with the Refi out of the HELOC.

If you haven't already, try going off market, driving around neighborhoods that would be of interest to you and finding ones that fall into your criteria (your agent should be able to help you as well).

The economic investment being made there with Semiconductor chip factories was one of the driving decisions of my investment purchase.

Some, like the last one we got in place, used a drive by estimate of value rather than a full interior appraisal.  

Kitchens:-I've been playing around with more expensive quartzite counter tops following the same principle as tile: not a lot of square footage and can really make the kitchen standout.

When you drive out to your example I'd be thinking.....hmmmm why is there a tennis court next to the deal I'm getting ready to buy? 

Quote from @Tim Horning: Hi Carl, I am going thru the exact same issue with my first rental; a large 3 unit house.

In Phoenix, where I’m based, or in markets like San Antonio, the best realtors do more than just list properties.. they go “driving for dollars” to find oppurtunity, leverage their local networks (probate attorneys, CPAs, divorce attorneys) and carefully analyze each property’s cash flow.

There are areas outside the Tahoe basin with a short drive that can provide for solid short term or long term income streams and still pull in the Tahoe goers.