I will say that during that time, the HELOC interest rates were very low.  

R5 is a little confusing to me - "intended for low-medium density single-family detached residential development at an urban density of 5 dwelling units per acre".

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

It’s a low-risk entry into real estate with built-in cash flow potential.

This is pretty clean.Scenario 2:  Your partner has owned the house for 15 years and has been taking accelerated depreciation, so the book value of the house is very low. 

As a result, inventory levels have remained historically low, particularly in markets where demand is high.

The newest outdoor is still advertising 1st month free as they haven't filled up, and I spoke with the climate controlled owner/builder yesterday (he's a pretty big REI in the area), and he made it sound like he hadn't leased a single climate controlled unit since they opened a few weeks ago.I recently purchased a 140x45 warehouse with low ceilings and had debated doing self storage, but my market seems very saturated.

We have an extremely competitive market, huge demand and low inventory.

And the laws and regulations here are very different, not very strict like the states.Prices are high and rents are low over here.

Quote from @Mary Jay: Quote from @Jay Hurst: Quote from @Mary Jay: hi guys,so I have a lot of equity in one of my rentals but the interest rates are super low on it. so I dont want to do a cash out refinance on it because I dont want to lose the 3% interest rate on it.I want to get some cash out of it via Heloc or another vehicle,  so I could buy another rental, but its not my primary, so I cant get a HELOC on it from lots of banks....I think PenFed does helocs on rentals, but because I have more than 5 rentals, I dont qualify for their HELOC loan.IS there a bank that would give a HELOC/cash on a rental?