If you sold that property, you would lose the HELOC and have to pay back whatever was outstanding. 

Furthermore, as we all know the first few years of mortgage payments are mostly all interest expense and less principal, so my outstanding balance on the debt is remaining roughly the same.

That project has now been completed, and the results are outstanding!

I am not considering selling the place but I bought it 2 years ago and NYC market has been pretty flat ever since.I have an outstanding balance of 460k$ on a mortgage at 4.3%, which is 30 year fixed.

That makes it a lot easier on me.  5% auction fee surcharge.My biggest fear now is outstanding maintenance. 

A proper title report will also show outstanding liens.

Since the issue sounds like it is still outstanding, and you cannot reach the tenant, I would be concerned.

Through friend that know that I am in the rental business, negotiation focused on making sure that there are no surprises, like large outstanding bills, lawsuit, legal problem, due to foreclosed condition.

You might find that there are restrictions you can't live with like prohibitions on parking a camper, boat or commercial vehicle - and even the colors you can paint your doors or shutters.Be sure to ask whether there are any pending lawsuits against the condo association or any special assessments in existence now or anticipated in the future.You shou;d also request a certificate of good standing from the condo association, meaning that the seller doesn't have any outstanding fines or fees. 

@Brad TarryYou can roll all or part of that old 401(k) to an IRA of your choosing, including a self-directed IRA that provides broader investment choices.IRA plans do not offer a participant loan feature as 401(k) plans do, however.If you are self-employed, you could potentially establish your own Solo 401(k) and then have access to the loan feature.If you will be joining another W-2 employer you could also potentially roll some of your current 401(k) into that plan such that you would have some capital from which to borrow.If you have an outstanding loan on your prior employer 401(k) that may need to be paid off promptly if you have terminated service.