BTW $1000 sounds like a LOT OF $$$ Oh interesting, are the maintenance techs in-house employees, or are they contracted but at a cheaper rate? 

If you don't have much money, then invest your time and energy.Putting a second mortgage on your home to buy a turnkey property is a horrible idea.

And if you’re lucky enough to be with the few carriers who haven’t yet increased the deductibles, pay the higher (than last year) premiums  for now (because you won’t find anything cheaper elsewhere and certainly not with the lower deductibles) and keep that option for one last year, because it will likely switch next year for you.  

Quote from @Thomas McPherson: That’s a good point about the bond market and mortgage rates.

I am considering a HELOC on one of my rental properties which has a lot of equity (~350k) and a low mortgage rate.

If anyone has questions about:Seller financingSubject-to dealsWrap around mortgage dealsLease optionsStructuring deals with minimal cashI’m more than happy to connect and share what’s worked (and what hasn’t) for us.

A HELOC carries a higher rate over a shorter amortization usually 10 or 15 years and a mortgage carries a lower rate over a 30 year amortization offering a lower payment.You have to run the math in each scenario because the math differs based on a few things like Fico score, CLTV, Loan size, and time frame between purchase and refinance of new property.

An STR that is poorly managed may leave the PM without his or her portion of the income, but it may set up the owner to lose the property if that cash flow was needed to pay the mortgage.

It’s building equity in an appreciating asset with a low 2.75% mortgage.

At that three year mark the rent should be more than the mortgage.