Cut “Bush sticks” yesterday.  

It sounds like you may not be cut out to manage rentals in which case you should probably sell.

A HELOC comes with a variable interest rate and all signs are pointing to no further Fed rate cuts in 2025 - and there may even be rate increases.- So, you may want to consider locking in an interest rate via a 2nd mortgage.Do you have reserves for unexpected expenses?

There are regulationsI could go on, but if you learn this much, and apply it appropriately, you will cut down your sorrows and risk, considerably.And yes, there is much more.

I've done this on one house in order to cut costs - since then, I've added a meter with the utility company but it's a good workaround for the short term. 

Ask for seller concessions to cut down closing costs.

Hey James,Ah, I see where you're coming from—given the Chicago winter, cutting off electric isn’t really an option without risking serious damage like frozen pipes.

This aligns with my interest in passive income.I realize I am not cut out for the entire REI process of consistently finding multiple properties for particular exit strategies.

While $50/month in cash flow isn’t great, it’s still positive, and cutting the termite protection could boost it to $125.

I'll save you the details but...Per door cost: $63,300All in Cost: 700kTotal Revenue: 137k(ish) annuallyNOI: 65-73% (in the expenses we included: insurance, taxes, $75/month per door repair expense, management fee 8%, grass cutting, & a misc fund for random crap business license, etc.)Now...