I have worked with some investor that can take down a small full development with that type of down payment. 

I like using these for just this case.Another item to consider is since this is a 2nd floor I wouldn't be that worried since the 1st floor will heat the 2nd floor enough to not allow frozen pipes.I would also talk to an HVAC person because I believe they can also put a device to cycle the heat a few times a day or even put a secondary thermostat in the apt to take care of the minimum issues.I feel for you because otherwise you have a great tenant.

What you can do is get a report what the properties were listed for, on the MLS and take a guess.

We didn't buy much from the MLS and if we did, it was either a "handyman special" or it had been on the market 180+ days with a motivated seller willing to take less than market value.This will be the "new normal" going forward and a lot of newer investors will drop out of the acquisition market and just hold what they have.

Nine out of ten years it usually works in your favor, but that one down year could take a big bite out or your ***.  

If you buy less or take cash out you will pay tax on that amount. 

@Haley White that’s awesome you were in a position to be able to pivot and take advantage of the market. 

It only takes a few minutes to comply, and this way, you don’t have to worry about any decision they finalize on later.

@Jason Dubon I take the cost of all appliances and divide it by 5 (avg lifetime of appliances these days) to estimate annual cost of appliance replacements.

However, if i would take 100k home equity on a rental A (ex. 100k) and use 50k each (same as above) for 2 rentals (B & C).