The chart is correct, Austin has overbuilt multifamily units and it will take a few years for the supply and demand balance to return.

I keep it as a check and balance / redundancy against appfolio which my office manages.  

It's trying to find that balancing act. 

With a HELOC, determination, due diligence, and a bit of luck, I am confident that I will achieve success in this REI.

Currently, I have my primary home loan, then a HELOC that has over $200K capacity ($50K balance remaining on it, but should be paid down in the next 3-4 months), so $155K or so available to draw on my HELOC at about 12%.  

If they pay off the first mortgage and the lien and I take any cash left over I'm concerned that's going to be a hefty mortgage payment and higher balance.   

Where I am in Texas if it is a normal loan from normal bank, they step in the day before the sale or morning of the sale and get it resolved and the property never ends up in the sale.If the loan has small balance, or is some kind of private money loan or I would say unsophisticated lender then some chance it goes to sale.

Letter from my banker of 25 years explaining how many deals we have done in the last 10 years and average balances carried in their institution.4.

You pay them down instead and usually around to the 25% to 30% credit limit to balance ratios for best results.

The value add will include TI's and renting out the 50% of the square feet that is vacant.The hangup is that in a TIC structure we have learned that every person must bring money into the deal to achieve an equitable split.