However, after talking to some loan professionals, it seems that there are always origination fees, appraisal fees etc.My question is, what fees should I expect to pay when opening up my first HELOC.  

It's worth paying a premium for the brick buildings that were built for multifamily.

If you do find a PMC willing to do this, expect to pay quite a bit more for all the extra hassles!

thanks Greg, yeah in NJ I pay $50 for LLC creation and 100 for boilerplate operating agreement for each of my properties to get an LLC set up online in 5 minutes and spits out the same documents  vs. $1500 for a lawyer so its just common sense to not use a lawyer and throw the $ away.     

I would suggest taking the route of option 2 or 3, so not only are you saving over 10k in rent per year but the residents help in paying down the debt.

Whatever approach aligns with your goals, I would hook up with a solid team focused on that investment strategy with the experience behind them—no need to pay your dues if someone else has and you can learn from them. 

Suppose new companies do not establish operations in your investment city to create replacement jobs with similar pay.

Can you easily pay vendors and contractors online?

Often the best risk, hassle and tax-free approach is to pay down debt.If you have a car note, credit cards, etc pay those off first. 

Meanwhile, I created one LLC and business bank account to pay property tax, mortgage and day-to-day operating cost.