@Shayan Sameer If you can service all debt and property expenses and have money left over then I'd say it's worth it.

Though it may cash flow well based on their current debt service, when you compare the income it produces to the equity they have is it actually even a good investment for them from an ROI perspective or would they be better off liquidating and redeploying?

Used your HELOC to fund the down payment on a second property if the right opportunity presents, otherwise those returns wouldn’t be juicy enough for me to take on more debt for the sake of scaling if you’re buying at retail. 

I would make sure financially you have a good base and then connect with a local agent

Finding the correct contact info is hard enough, but if your pitch is that they should sell cheap now, you're misreading the market.Multifamily properties are worth significantly less now than they were just a few years ago, and asking for a further discount due to property condition would probably result in a loss, maybe not even pay off the debt.

Right now, you have a property with a great equity position, solid cash flow, and cheap debt (interest rate is low). 

It’s owning high quality assets within areas that have a high barrier to entry so that asset appreciates over time as you pay debt down.  

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

This book introduced me to financial concepts and made me look at money and investing in a completely different way.

I have very little debt besides mortgages and have spent my own money doing renovation over the last few years.