If that area does not workout for you, then I would consider investing in Toledo!

HELOC interest rates are typically variable, meaning the interest rate changes periodically (often monthly), which adds some unpredictability.If we assume a $150k balance, though, at 9% interest rate with interest-only payments, then the monthly payment would work out to ($150k balance * 9%) divided by 12 (months) = $1,125 per month as interest. 

If the numbers work out then you are good to go.How does someone truly manage a property "effectively" from a distance? 

Personally, I would only purchase for STR right now on either very unique/special properties or on those that also work out as LTR.I am a licensed REALTOR who is investor focused.

It didn't work out for me.

It all comes down to how the numbers work out and what your goals are.

Depending on your plan, some lease terms might work out better or worse.

Also, living in the property/neighborhood will stop you from buying Class D trainwrecks - which rarely work out anyways. 

Thank you for pointing it out.My point for others reading along - People often make bad choices becasue they only look at the ways it MAY work out, and ignore the risks of how it may not work out.

I did 4 fundings in Janesville last year and my guy got through the first one on time and for profit we expected then he up and passed away from a Diabetic coma.. leaving me with 3 that I had to work out of .. two I sold right away for what I had in them one we made a small profit It happens.I do background checks  dont really care to much about credit but I dont want any criminals and then If they are married I want to meet the wife and take them to the nicest dinner in town.