Here are some of the details:Purchased: June 2023Size: 4,300 SFlocation: Greenville, SCTenant: NNN lease, 3 year lease with renewal options that commenced in April 2024.Tenant pays $6,200 total. $5,000 net after taxes and insurance Internet is responsible for maintenance.Down payment: 30kValue: $725k +Current loan: $440kI just wanna pull $50-$75,000 of equity out of the property without being killed on a really high interest rate.

Lots of folks got burned badly in about 2013 and were underwater at renewal.

Here are some of the details:Purchased: June 2023Tenant: NNN lease, 3 year lease with renewal options that commenced in April 2024.Tenant pays $6,200 total. $5,000 net after taxes and insurance Internet is responsible for maintenance.Down payment: 30kValue: $725k +Current loan: $440kI just wanna pull $50-$75,000 of equity out of the property without being killed on a really high interest rate.

Troy,First, the reason for the non-renewal is important.  

I've also used my VA for following up with past-due tenants, lease renewals, and to setup inspection times such as when the bank wants to walk through.

I don't know if you have a yearly renewal, or if your Heloc is for several years.

Haha it’s not as bad as you think but that is a renewable energy source.

I have heard some say that they save 2 weeks in August for repairs for non-renewals. 

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

This morning the HOA on one of my properties located in Colorado Springs informed the owners of a "Special Meeting Notice" to ratify an amended 2024 HOA budget due to an unexpected high insurance renewal.