Getting to know the towns, neighborhoods, streets and actual properties is essential and far more important than just one town name versus another.At this point, you don't know anything about your future tenant, so I wouldn't assume they are trying to get to the city.

Not saying its a bad deal based on loan terms because it might make sense just know as an LP what you are getting into.Market Type & Competition:Determine if the property is in a primary, secondary, or tertiary market.Evaluate supply and demand, focusing on new inventory coming online in primary and secondary markets versus more stable tertiary markets.

I haven't, but just make sure the mentor has personal experience/success AND you have access to either him or a qualified coach for as many questions as you want to ask, versus just buying a course like some people offer. 

In my case, I don't have enough units to need all the bells and whistles of a more robust system.

So having "voted for this" seems like a weak argument when there's no alternative.And if you want to say third parties are an alternative, with basic game theory you can see that in a first past the post voting system, they are not. 

It is a good Ole boy system and they take care of their own before serving you.

What is the blended rate versus simply doing a purchase using a renovation loan. 

So, you are not improving the effectiveness of the system.

@Roy SahachaisereGo with the system that your people will use.

A cash out refinance will typically be the better choice for a few reasons.A cash out refinance allows for a longer term 30 years versus a Heloc usually over 10 or 15 year term.