Heloc’s are best utilized with a short term strategy, ie flx and flip, to BRRRR, etc.

It's been great - the property is 100% paid off and the house is worth 300-340k generating approx $2300/mo (that's after utilities/management fees etc.)I'm considering selling the property to buy 3 more within the same price range in the same market. 

I'm not counting those since I don't manage them, but I typically avoid cities and states with laws antagonistic to landlords.

This protects against potential claims and liabilities specific to the rental.For tax purposes, maintain clear records of rental-related income and expenses, allowing deductions for insurance, utilities, maintenance, and depreciation proportionate to the rental unit.

Utilize financial analysis and market research to make informed investment decisions.

Utilizing a wrap he has a mortgage note as an asset to offset the mortgage he’s still responsible for on the property.  

The cashflow should cove ALL of the expenses for the primary (mortgage, taxes, insurance, utilities, etc) AND put money in their pocket.

This is typically for most people not a DIY project. 

@Ezra Avery you might want to read below to understand Classes of Property/Tenants.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Typically, the tax is based on the assessed fair market value of the property at the time of the transfer, even if it’s not a traditional sale.