When we find out a unit is coming up and our resident doesn't want to stay we can "show" the property without climbing over their stuff. 

Long story short, your HELOC is going to carry a 6%+ interest rate to start with and most likely will climb from there.

Code requires you to have an ancillary heat source - ours typically fire during 2-3 weeks in the dead of winter when overnight lows get down below -30C and the daytime highs do not climb above -20C.

Real Estate prices typically follow 1 -2 years behind oil and gas activity, so hopefully we'll see prices climbing again in a year or two.Our plan is to pick up as many cashflowing properties as we can while the market is down and soft, then re-fi when it improves and recycle the capital into more projects or possibly down into the states on larger deals.

, maintenance (beyond what the HOA covers), and property management (if you ever decide to no longer self manage) - you may be losing more money than it initially appears.HOWEVER, the Beverly area is on fire right now, it is completely possible that property values will continue to climb quickly, and you could exit your condo in ~5yrs and make a nice profit (keep in mind you'll have paid closing costs once as a buyer, and once as a seller at this point, which will really eat into the profits if, say, you bought at $250k and sold for $300k - not a straight $50k profit, plus you had negative cashflow over the years too).So...

I was verbally told they have seen A long rat climb up a specific tree OUTSIDE of their unit.

Re-financing doesn't make sense because it is still going to cost you ~$6-$8000 (not out of pocket, but still in the long run), and interest rates right now are climbing.

Most markets across the nation have seen climbing prices and it simply can't be sustained forever. 

The rents are climbing in the area and while not many, there may still be deals to be had in the area. 

into an area if it's going to be a rocky, bloody uphill climb the whole way.