@Jordyn Ohs Assuming your heloc is re-advanceable and the rate is higher than your mortgage, I would suggest you pay your HELOC down as quickly as possible with any cash flow from the properties.

Purchase price: $240,000 Cash invested: $60,000 purchased this distressed duplex using owner financing for $240K and a $60K hard money loan for renovations.

That backs out to 10-15% cash on cash return in most cases.

and are you looking to walk away with cash or simply refinance (meaning paying off) what you owe? 

Cash buyers & investors are also skiddish due to the increase in crime as well as DC’s crackdown on AirBNB’s and tenant/friendly TOPA policies.

In particular, I’m a huge fan of the South Side of Chicago or Northwest Indiana for cash-flowing properties.

Small multi-family properties starting at over $1M, which is pretty expensive and, resale single family (before year 2000) offer minimal cash flow (~$200-300/month).2.

I like targeting outside of where I would live for SF and small MF (1-4 units) because of the lower entry price, usually higher cash flow since your rental income is higher relative to your debt service, and your appreciation potential is high if you can read the writing on the wall.

   #9  SWEETEN the POT:    Do not think that paying extra rent is going to entice owners to rent to you. 

Purchase price: $425,000 Cash invested: $5,000 ell after just 6 months of owning.