. $425k) to purchase a 12-unit Apartment ($1.5M) with 25% down ($375k from the HELOC).The remaining $50k from the HELOC could go into fixing/rehab of the 12-units.Then cash-refinance the larger amount from the 12-units to pay off the HELOC in one lump-sum (as much as possible), then using the cash flow from the apartment to pay off the rest of the HELOC.Repeat the process with a new apartment.1) Does this make sense?

Estimates are bout 400k for full gut remodel (hvac, plumbing, electrical, roof, mostly new windows, kitchens, and baths, minor re-framing) New plan is for (2) 2B1B units and will rent for 2k and 2500/mo. 1 unit is a larger 2 bedroom.

As an investor that started bird dogging, then wholesaling and then a buy-and-hold landlord in single-family homes, I've always been local. 

It is mostly families in our larger units so not much in the way of problems, but there is a bad apple here and there. 

.- While MTRs can be any size property, the bedroom/bathroom count is really important, especially with larger properties.

Others dog it until they see success.

It's not likely your friend was saying that you would get another HELOC to go in 2nd position (banks don't like to do a HELOC behind another HELOC).My guess is he's saying you get another HELOC with a larger available balance, and use that HELOC to payoff whatever is remaining on your existing HELOC.

If you do the latter, you need to screen the new person the same way you did the first person.I offered to let her have roommates, but she doesn’t want to deal with it because she has no one that she would trust to do it.She said “You know I have a big *** dog, but you didn’t know that I like to walk around the house naked too” hahahaSounds like I’m losing this one. 

You have to purchase a larger single family homes, 6+ bedrooms.

Add walk in closet & larger master bath.