You are sitting on a lot of equity and a 2.8% makes it tough to pull that out in addition to a huge HOA fee.

If you were to put aside the money that would go to extra payments, what interest rates would you get on that (ie would it make more money sitting in a high yield savings account instead of paying down a low interest rate mortgage)? 

A huge fine could be sitting around the corner. 

The run down trap houses that used to be there including the lots maybe 30-45k in value, now there are 400-550k homes sitting in their place.

Only one thing, it sits on a septic tank. 

Won't you first sit down and estimate the cost to see if you have enough money to complete it?

I have been eyeing a property that is listed as a fairly new mobile home sitting on almost a full acre, checked out tax records etc and the land does belong to the seller.

But if you look at other global macro trends you see other things forming quicker and I won't get into that, but that doesn't mean this isn't coming.I'm very tempted for the first time ever to sit 100% cash and watch, I may do this as we enter first business week of June.

at what point does it make sense to use a heloc on an investment propertywould you use one to buy the property cash (house is worth $50k) not a lot of room for appreciation, but the rents make sense for me to sit and hold it.in what situation have you guys used a heloc?

A heloc is an open end mortgage or in simple terms its a high risk credit line similar to a credit card that sits in 2nd lien position adding another trade line to your credit and reducing DTI.Just like a credit card if you ever miss a payment on any debts on credit or if your scores drop unexpectedly they bank can close or reduce your line of credit.