Feedback has not suggested property needs additional repairs/work, only that they are looking in a different area.

However what happens when the tenant vacates and now the unit has to be turned over/takes a few months to find a new tenant and during that same period of time the sewer line goes and you get hit with that $15,000 cap ex expense in addition to the vacancy and turn over costs.

Does anyone know of a calculator where I can plug in the additional yearly pay down along with the appreciation rate of my area? 

NEVER borrow from a 401K, you are taking pre-taxed dollars and paying it back with after tax dollars, you do not get to return the loan with pre taxed dollars, in addition, some 401K plans do charge interest and maybe even fees, and lastly if you get laid off for some reason, it is a distribution with all the "fun consequences: tax at the last dollar rate, and if you are under 59.5 there is also the additional 10% penalty.Personally I like the HELOC, however you can also sell stocks and do tax harvesting there to offset gains if that is an option

Would love any additional info and the chance to check it out! 

Additionally you can do a cost segregation study and get a lot of depreciation benefits to offset the rental income (and potentially other income).  

If you have any additional advice please let me know!

In addition to refinancing, DSCR loans, and cash-out options, we now provide our services for all property types, not just those from NetWorth.

Quote from @Lisa Albright: Hi All,Newbie here, just a quick question we are building an addition on our second home, we have a primary residence, and two rental properties.

The decision to do a cost seg generally comes down to whether or not you can actually benefit currently from the additional depreciation.