If economy is normal, we can expect housing market to have a little over 2% appreciate per year just to beat 2% inflation. 

Get on few local Wholesalers Cash Buyers List - Make sure to vet the wholesalers carefully as wholesaler are known for inflating After Repair Value (ARV) which can be a major deal breaker.

If prices keep going up (at least for a little bit) you could convert the HELOC to permanent debt, but now you have inflated your expenses.  

Don't over inflate the numbers or be too optimistic on the numbers which new investors tend to do.Thoroughly research the area you're going to buy in. 

With these inflated values, it's a great time to lock-in access to equity.

I have inflated all of my expenses as well as what my vacancy and management percentages should be.

Also it's hard to time that market bottom and in the meantime you're losing real money since inflation is eating up your cash (assuming you don't have it in something else that you can sell easily like stocks...which also might crash).

With souring student debt and outrageous cost inflation for tuition, it makes you wonder what you could launch into without the burden of payments and interest right out of the gate.  

It was definitely not a break even however if you consider how much we put into it and the rate of inflation over those 13 years.

It was definitely not a break even however if you consider how much we put into it and the rate of inflation over those 13 years.