Quote from @Fernando Martin-Gullans: Hey y’all, I’m a retail investor with 2 SFH rentals worth a combined ~$650k looking to utilize some of my stored equity to buy more out-of-state properties, but I’m not quite sure how best to proceed given that my interest rates are incredibly low (leaning me away from refinancing) and neither property is owner-occupied (which I believe prevents me from using a HELOC).

Even with buying down the rate, I would not expect to get better than low 6's in the best of scenarios.

Anyone that is looking at your assets is always going to need to factor in property management, so you can show that as a real expense (and really make it as high or low as you want).I work in a vertically integrated real estate and development company, and I cannot imagine how things would run if we did not have an internal property management company that essentially works for the other companies but also stands on its own.

now if you could get a seller to be the bank I get that you could smoke and mirror those deals.. but i would think those would be picked over low value or properties in the worst areas of town etc..   

As you grow your portfolio, keep an eye out for lenders who offer low down payment options for investors or those that allow leveraging the equity from your existing properties to fund new ones. 

There are other loan products available that are still a low down payment. 

With that low interest rate, you will have paid down a lot of equity in the deal and should be able to finance with a bank.

A property manager’s expertise in handling maintenance issues, dealing with tenant concerns, ensuring legal compliance, and keeping vacancy rates low can make a huge difference in the financial performance and sustainability of a property.

Until 2018, when it was closed due to low revenue and high maintenance costs 2.

I've never really done a deep dive in analyzing the area because it is a retirement community, median income is very low, and there arent a lot of jobs in the area.