Depends!

Any location or decor can create a great ROI depends on the purchasing price.

In absolutely no way would I ever depend on such a broad analysis to ultimately determine my decision.

Colorado is pretty dependent on tourism. 

If you said the property was valued at $200k, then 2nd position may still bid in an attempt to run up the numbers depending on what kind of haircut they're looking at. 

For example college rentals generate some of the highest ROI of properties I come across in New Jersey but it depends on the school and location of property.

I would only do it if it was an absolute no brainer of a deal as if it goes south then you not only hurt yourself on that deal but also the property that you took the heloc out of.This also depends as if your current LTV is 30% and want to go to 50% is different than going from 50% to 80%.

@David Sohn It depends on what your purchase price is.

I think it depends on the appraiser. 

@Brice Alef-Torrisi putting each property in its own LLC is usually overkill.Getting a bank account for each LLC is typically something you need to do to avoid "piercing of the LLC corporate veil" (actually depends on tax selection you made for LLC), but is also overkill.You haven't indicated how you are holding the deed for the latest property.If in your name or same LLC, you don't need a separate bank account.If in separate LLC, you can create a Master LLC, have each property LLC hire the Master LLC to manage their affairs, and just get a bank account for Master LLC.This is an opinion, not advice, so lookup CPA Frank Alcini in Troy for expert advice.