Do you use the extra cashflow ($2000) to payback the principal balance, or to maximize the benefit of leverage you only pay back interest only for the first 10 years?

For instance every time you get a credit card bill, that new balance is reported.

I'm considering approaching the lender about a deed-in-lieu-of-foreclosure, given the 7-figure difference between appraised value/loan balance, I'm hoping that would be a solid last resort.Keen to hear if anyone has been through a similar situation and whether there's any other creative solutions I should consider. 

The beauty of it was that the HELOC just sat there with a $0 balance (no payment) until we needed it. 

Is this something I should not worry about (ie worry about higher balance than implied in deed of trust)?

Using the rental property calculator, Cash on Cash ROI is -7% for the first year, and doesn't become positive till year 11, after we've had to invest an additional 46.2k to balance each month.

Check.Second -- are there accessible louvers or balances near the vent openings?

Here are some details that I know of:Property: SFR 3/2Current Loan Balance: ~$247,000Current Rate: 8% (yes, that's right) they can't refinance they've looked into it already.Current Payment: ~$2200.00 p/m Current Status: VacantRent for the area: ~$1600.00Repairs: ~$8k+ (according to a recent bid from a contractor)ARV: ~$277,000Any suggestions would be much appreciated.

Obviously this is extremely difficult, but automation is quickly gaining traction so i try to account for that.

And yes it is to make money, but just as with everything else in life I need to balance money with happiness.