Given your situation, tapping into the equity through a HELOC could be a smart move, allowing you to access capital for new investments without selling off your current assets.That being said, considering your stable cash flow and existing portfolio, a DSCR loan could also be valuable.

Is there anything I should keep in mind about getting prequalified or making offers in my situation or anything in general?

I have found many websites, but they are for fix and flix situations or a calc sheet to get approved/join their lending services.

You have to earn some stripes through unfortunate situations like that to be a better investor.

It's a win win situation in my view.Sorry for being so simple but the space is limited.Anyway good discussion points

It is easy to assume, but assumptions are only guesses and often clouded by our view of people.As you are out of state and this is clearly causing you stress, I would suggest talking to a few local property managers to see if they can take over management of the property.Vacancies do cost, though the price someone else quoted is higher than I've ever experienced outside of an eviction where lots of stuff was left behind and the place was not taken care of (both of those were probably $6K once I factored in lost rent).

The appraiser will mark the report "Subject to" and you will have to fix it and have the appraiser come back out to finish report which is called a "Trip charge" or cost more money.Unless of course you decide to go FHA 203K but those can be a nightmare of wasted time and stressful.

Hi everyone (and thanks for the time and support you guys give to the rookies),I am in the same situation of Luke E.

What’s also interesting about this situation is that we purchased the property March 1, 2020, and within 5 months lost 4 of the 6 tenants during Covid shut down!  

I wouldn't trust the advice I would get on these forums for your situation.