In general, don't worry about the interest rate at it's current state but what is actually more important is if the utilization of this HELOC makes sense in terms of growing your portfolio, doesn't create to much risk that you are not willing to bare, and the numbers work then always do it is how I see it!

The elitists will tell you schlage is the bare minimum.  

We've been barely breaking even since we bought the home in December, but are expecting our summer months to gross about $20,000.

If you are in a title company state it is SUPER simple to sell without an agent, barely an inconvenience. :-).

I can get 2 acres of bare land for 25K.

I believe with the low rents Ohio gets, it barely justifies building new apartment buildings in most areas.

Just keep in mind (and budget) that dealing with it would be stripping to the bare wood and repainting.

Tired landlords do the bare minimum in managing and upkeeping their property.

They bandaid the problem with no solution and expect you to bare the expense, no way!!!

Understanding that the market here is crazy high and not necessarily attainable for myself who barely has $10,000...