I also added language to make it clear that any temperature adjustments should be reasonable, so it’s not left open for tenants to make claims.

@Joe AuA HELOC has an interest rate that is adjustable......

Get a bank statement to cross-reference their paychecks as most employers now direct deposit.You'll also see if they have a savings history or are living paycheck-to-paycheck.If they are not paying rent right now and have no savings, how well do you think they'll be able to adjust their budget, so they can pay rent on time?

Excluding the periods of “tulip bulb” irrational exuberance, a property must produce enough of a risk adjusted return to satisfy both the ROI demands of the “limited partners”, and the income/time requirements of the sponsor.  

It’s a tough decision, but we’re adjusting our strategy to align with market conditions and our timeline.Having come from a corporate background, I’m used to doing these kinds of planning exercises.

Possible add insurance on your appliances with them paying by adjusting the rent or if they are OK with it so if something else breaks,your covered. 

Your true return has to be risk adjusted.  

The LOC adjusts each year.

I would suggest you take a few months and watch the market before jumping in because the market has adjusted the pricing because it's hot. 

To beat 5.25% mortgage rate....the corresponding, offsetting stock market return would be at least double that...To answer your question requires (1) knowing what risk adjusted return you will be able to earn in the future (2) knowing what interest rates will do in the future.