Overall nationwide cap rates are rising because of interest rate increases.

Current HELOC rates are typically 8-10% depending on your credit and lender, though some banks offer promotional rates.

I am seeing interest rates start in the mid 6% range for foreign nationals here in Florida.

You could also get a line of credit for about $150k (you should be able to borrow 75% of the value.)The reason I suggest this is…1) you save $40-$60k in selling costs. 2) you have a lower blended interest rate (2/3rds at 3.25% and 1/3rd at 7 or 8% instead of the whole $500k at 7 or 8%) saving you another $1k/mo in interest. 3) you only pay interest on that $150k when you actually use it, not from day 1  Unless you hate this property, or want to buy something you can’t afford without selling, that would be my plan.

Yes, i have ring cameras etc.Excellent suggestions. 

What was the interest rate and when you went to refinance what rate were they offering?

Based on what you've told us, your rate should be at prime (7.5%), unless you are over 80% LTV, then it would be prime +1.Jeff

New to Phoenix and hearing a lot of places for rental investments but trying to figure out from the pro's around to find what are the areas that can break-even on a monthly basis and the areas that can show appreciati...

There is a lot more to it than the rate.

Rent rates have increased so quickly over the last few years.