I do have some renovations I would like to do later on and if I can secure a low interest HELOC right now before the market starts to pump the brakes a little bit then I don't see why not?

Conventional loans (Fannie Mae, Freddie Mac) put the brakes on doing a lot of loans for rental properties.

I was called by a friend about a realestate question and I was wondering if you guys had some insight on it.Essentially my friend had a lease with her boyfriend. Both their names were on the lease. She broke up with h...

Another risk especially given as you say this home is in need of major work - the tenant could start filing complaints against the home's conditions as soon as it is sold -  which would put the brakes on any removal process AND force you to make updates to the home for their benefit, or force you to pay fines and pay their moving costs.   

But you need to stay fluid at first.  

Imagine someone pushing on the brake while the other is pushing on the gas, it just doesn’t work.

On a similar note, ive done away with wax rings across all my properties, i like the Fluid Master rubber ones.

So borrowing now before the market starts to drop may be a good move.If you qualify it may be wise to refinance both properties so that you are cash fluid. 

Think bad fuel, dry rotted tires, rusty brakes and brake lines.

Bottom line, the rents can be a little fluid, so you just need to look at supply and demand when you’re ready to rent.