I also wouldnt let your mom go into 2nd position on an investment property with any sort of restructuring; it doenst sound like she's in a position to risk being wiped out.Overall, though, if you want cashflow on the new property but cant achieve that after a refi into a market rate loan, it probably makes more sense to just flip it, pay off your heloc and your mom, and use the remaining capital for the next deal.

I also pressure washed the exterior of the units and raised rents to market rent.

Before jumping into the condo, I’d take a closer look at whether the $300/month cash flow is worth it compared to other options, like a small multi-family property or a property in a higher-yield market.

No free lunch in this market!

Hi Yael, I am a featured agent from Bigger Pockets in the QC market and can assist with all of your questions.

For all methods you would want to find a market that has strong employment rates, strong income rates for the market, and is a growing or an established market. 

I was thinking of starting a rent increase for my 1 bedroom tenant voucher due it being low and well under fair market value(Based on  hud and zip code) but my tenant is in the process of having a caretaker for her disability and getting approved for a two bedroom voucher.

Are you in the Atlanta Market?

Ensure the property’s price aligns with market trends, and work with a local realtor to help with due diligence and negotiation.Good luck!

I would recommend starting in your backyard and hone your skills if its possible, I know some markets have an extreme HCOL which may make it unfavorable in your case.