I like the idea of using a HELOC over a personal loan and going with option 2, but it depends on what your goals are.

Look for shops that test and offer guarantees.For valued tenants or premium units: New appliances might be worth the investment for their reliability and long-term durability.Ultimately, your decision depends on your goals.

Bank financing is very tough for anyone starting out so HML is generally ( unless you use your own cash or cash in your network) the only funding there is.. the goal has to be though moving towards bank financing so you get the best deal possible.. right now I am at 1/2 point and 7% and my bank pays for my appraisals.

Our end goal is to be back in Redding in the next five years. 

Single-family homes and small multifamily properties (duplexes, triplexes) are solid options depending on your goals.

I just meant to say that it's our next goal to build that up, having just gone on a spending spree on fixing up both properties in a short period of time.

They’re a great way to generate passive income with minimal hands-on involvement.Looking forward to hearing more about your goals!

Did you feel like using a property management company could help you achieve the goals you had for your investment property? 

What works best really depends on your goals and risk tolerance, but here’s a quick rundown of what I’ve seen happening in the area:STRs: These are still solid in vacation-heavy areas like Naples, Fort Myers, and the barrier islands.

Maybe the 300K properties cash flow much higher, but the 600K property appreciates much faster?