Assuming I get an appraisal of $500K, I have ~$110k (75% of appraised value minus the loan) I could tap into for equity for a HELOC.Question: What is the process for getting a HELOC?

Say you need a new roof, or a new boiler at year 28 of ownership......does this turn into repairs/maintenance? 

In digging into the details through public record searches I find out that he has had 3 evictions, several drug convictions, and a violent crime.

I can say that with Phoenix, a multitude of opportunities can be in store for you if you invest in their market, network, or even just want to get familiar with it.What type of real estate are you into: fix & flips, buy & hold, multi-family, or something else?

Great job turning your condo into a cash flowing asset! 

B class will be basically break even maybe slightly positive cash flow on a good deal with your typical 20% down payment and financing the rest with todays interest rates. 

For the second property, I would expect to have to put money into it in some fashion.

So I've been thinking of joining the Air Force for 4 years, during those 4 years I would buy 3-4 unit properties which later after the 4 years I can get into Commericial real estate by doing a 1031 exchange or getting loans from private investors so that I can buy bigger multi-family properties.

Or take a break. 

The fact that she's upset indicates that she hopes to move the animal into another rental without disclosing it.3.