As a builder, I target about 15-20% profit per build ($500k-800k price range, low-mid in my area).

I have lumber liquidators, home Depot, Lowe's, and who knows what else near me (central CT).

Start by making a low offer to the tenants and see if they’re interested.

The low purchase price, combined with an established market demand, made this an ideal transaction for a fast turnaround and profitable outcome.

Because so much real estate in the US or Canada wouldn't be profitable without ultra low interest rate (as many investors are discovering lately), we are obsessed with getting cheap financing.

Since you’re still figuring out where to invest, look for areas with strong rental demand, good schools, low crime, and potential for future growth.

That is a really low rate which is good so second or heloc would be better unless you didnt have the cash to get a second mortgage and the rate difference * cost of second home dont exceed the rate difference to your primary * principle left.I would lean fixed heloc then you could always refinance if rates go down.

Some even offer preferred interest rates as low as 5.75% at no cost to you. 

Both reno loans also allow for a low down payment (3%-5% minimum - AMAZING!).

House hacking is an excellent strategy, especially with the potential to use an FHA loan to secure a property with a low down payment.