@Linda Weygant Yes agreeing with @Montse C. here that this first needs to be discussed by the governing bodies and most likely will get tackled or at least in part tackled as it makes no sense.

One day several weeks after close, they sent me an "invoice" via email with no body, just an attachment with a jumble of line items - It included one of the two items they were getting a quote for me on (new flooring), some but not all of the items they were supposed to fix as part of the contract (with prices even though they were paying), and a few other items I was not familiar with. 

@Anca R. and everyone, thanks for the shout out.To simplify the process the best I can, I'll address and break down each concern. 1.

Even if the new property only breaks even, you have shown an ability to handle the debt of the HELOC very well.

I'm fine with losing lots of time and effort even if it just means breaking even.

Let me break it down further to clarify the mechanics of the plan.Balancing Rental Prices with Financial Sustainability:The goal to drive down rental prices isn’t an immediate or universal adjustment—it’s a phased approach that leverages time, scale, and operational efficiency.

All things being equal on the asset side, the operation and systems put in place will make or break the performance of the investment but at this point that has almost nothing to do with real estate. 

If you oversimplify it and take your total cost to close the deal / monthly savings = # of months to Break Even.

On the other hand, if you “just” break even for 30 years on your previous primary home with 5% down.

However, if you know Newark, you know where Newark breaks for the better appreciation (or will learn).