I am a new real estate investor and I'm trying to determine the best way to finance my first property.

And sorry that you are dealing with a vacant property for such a long time.

I just found out the property is in a Zone A flood area, which means lower property values and a longer selling timeline.At this point, I’d rather take the $5K loss than deal with the potential headaches.

Both of our properties have about 100k in equity in them so we were thinking about using getting a HELOC on the duplex rental property and use that money for the down payment on the next property.

When refinancing, do you normally have a tenant in place before the appraisal, or refinance while the property is still vacant?

What I see most often is property managers get paid a % of the rental revenue.  

Quote from @Joseph Bui: Hi Nishil, I don't have any Indy rental properties but I know a few investors there I can connect you with.

@Ricky Sanchez One of the requirements of doing a 1031 exchange is that the tax-payer for the relinquished property has to be the same for your replacement property.

Hi Shea,It is a residential property and, yes, my strategy is buy and hold.

Quote from @Tomasz Kaminski: @Chris SeveneyHow do you consider property value if you cannot go inside to evaluate the interior condition?