Do this hoping to keep your heloc balance below this number so you are paying less interest based on your average balance vs the rate of your first mortgage payment.

Quote from @Richa Wardhan: Correct330,000If you're not worried about cash flow, I'd keep doing what you're doing.

By exploring options for cost-effective utility usage, such as installing low-flow fixtures and implementing irrigation systems, we can significantly save on water expenses.To keep things running like a well-oiled machine, you’ve got to have a rock-solid asset management plan.

Keep my wife happy by updating the light fixtures in our home, but keeping myself happy by keeping those costs to $1k or less so we can build momentum with our BRRRR. 

And by doing so you’ll be able to keep your bedroom count under six, which keeps you within residential parking requirements.

Since you’re planning a mix of long-term and short-term rentals, keeping detailed records and setting up a solid system for managing finances early on will be key.

@Dave Meyer always cover this almost every month.Below are few episodes and resources to help you narrow down your options and finally start your investing.I recommend you pick the market that aligns with you real estate investing goals, your risk appetite and personality.https://www.biggerpockets.com/resources/real-estate-101/wher...https://www.biggerpockets.com/blog/best-real-estate-markets-...https://www.biggerpockets.com/blog/most-affordable-housing-m...All the best and keep up posted.

But mostly keep in mind that any property you find the local landlords already know about and did not desire it.

I keep coming across posters asking for advice on how to “scale” their investment or business activities.  

That aside, If it were me I'd get a professional estimate of what repairs would cost, and make the decision to keep or sell based on that.