If it's below average, I would discontinue the lease when it's up and then do a renovation then put it on the market for market rate. 

Of course we are closing now that the market is picking back up🤦🏼‍♂️.

This could be a great way to scale faster without tying up a lot of your own capital.As for using a HELOC, I wouldn’t recommend locking one up on an investment property.

But because the sheriff’s office is backed up for three months, you’re in a bit of a holding pattern.

- L**** Markets I've rented in since 1997: College Park, MD | Centreville, VA | Brooklyn, NY (Bed-Stuy) | NY, NY (Upper East Side, Upper West Side, Murray Hill)**** City Councils and Lease Types: (9 different leases over 25+ years)** City Council of New York (market rate lease (1 with and multiple without guarantors), 1 rent stabilized lease, and 1 unique govt. program in C-class neighborhood), ** Prince George's County, MD (market rate) ** Fairfax County, VA (market rate)**** Building Types: ** Non-combustible 8-unit and 10-unit (both built 1950s-ish) (walk ups), ** Semi-renovated former tenament building (1870s-ish 1 sink, bathtub was originally in kitchen, built wall around it)** Garden-style apartment (2000s walk-up, private porch), ** Luxury 100+ elevator (built 2012 with non-foodretail underneath + underground parking garage + 24 hour security, ** Luxury 100+ elevator (built 1990s with grocery store and retail underneath)** Unrenovated brownstone (1870s-ish walk-up) (It was Hoboken, NJ circa 1996, I was the illegal 3rd tenant for a couple months)

Make a quick buck and build up your capital.

With that said, you can set up searches on ZIllow/Redfin or work with a realtor who specializes in investment properties, specifically value-add real estate (for your BRRR strategy) and have them set up an MLS search for this criteria that they would then send you hourly/daily/weekly/ad hoc

The main thing is me is that the capital is tied up.

I am on my first BRRRR and the issue is lenders keep only wanting to lend on 80% of the purchase price and not the actual appraised value, which would keep my money tied up on the rehab portion as well as 20% of the purchase price.

If you're envisioning picking up one of our massive brick or brownstone row homes that has 3-5 units contained in areas with very little to no board-ups and some of the city's highest values (think Bolton Hill, Mt.