IMO, not worth dealing with used appliances - all savings will go out the window with the first repair call. unless of course your lease agreements explicitly require tenant to maintain appliances (not typical in CA but common in mid-West)Personally, I always buy new from HD and always get 5 year pro warranty - covers all repairs and in a few cases ended up with new units when they could not fix old ones.

Maintain less that 5% of company assets in nonqualified financial property 4.

I know one do = maintain a limit before you begin bidding and don't = change your bid maximum so you can stay focus and remove any emotion.

To Whom it May Concern,We are taking out a HELOC in order to upgrade our house, and to maintain liquidity in the event that anything else comes up, including family emergencies.

Go talk to the dean of the school of business and offer yourself up as a case study for a finance class ( or a real estate cluster class). 

Ask the tenants to confirm the reported rents on the rent roll (i.e. get estoppels).Verify the rents aren't more than 5% above market rent for comparable units to ensure that as units turnover, you can re-tenant and maintain your cash flow. 

I’ve been studying up on this...I’m going to present it as an option.

If you want to know what will happen in the future, study the past as in 2006-2008.

Since we are I have been studying up A LOT on them. 

Once complete, we also need a property management company to maintain the long term rental.