This ensures you lock in better terms based on the improved cash flow.

That loan will cost you around $800/month for 30 years.I think this improves things, and your only loss would be the cost of the equity loan and the payments you've made so far on your IRA and credit cards. 

.✅ Stronger Tenant Relationships – Being involved directly allows you to build rapport with your tenants, which can lead to better communication and longer leases.Cons of Self-Managing❌ Time-Consuming – Dealing with maintenance requests, late-night emergencies, and tenant disputes can quickly become a second job.❌ Legal Risks – Chicago has strict landlord-tenant laws.

It sounds like we didn't do a good job of setting expectations with you on the front end.

My question is why you want to bring it up to code, other than just to feel good or improve your exit strategy?

Improvements What was the outcome?

HELOCs are fine, but keep in mind that you really only want to use 50 percent of less (each) of your available equity just so you aren't creating a problem that you can't solve later if the value of your personal residences fluctuates.If you both have W2 jobs though, have you looked into getting qualified together and just getting a loan, 10 percent down each?

So, if your current rent roll is still on the lower side, it could limit the amount you can borrow right now.However, if you have even a partial track record showing improvements.. say a few of the units are already updated and attracting higher rents.. a lender might take that into consideration when underwriting.

But since I am in the fire area of Altadena I will be very busy rebuilding houses for the next decade for me "day job".

@Damien Davis - I bought most of my properties when I had a W2 job.