Your PM needs to have an excellent reputation and ability to get quality tenants and retain quality tenants, raising rents (nuisance increases yearly).Some people on BP have reached out to me and are on their 2nd or 3rd PM after 1 or 2 years of ownership. 

So I do still think its valuable to try to learn and retain the information as well as you can instead of just trying to cram and remember it only for the test.Best of luck!

There is also half the parcel left that could be buildable with a retaining wall, but I didn't want or need that space for my SFR.

We are hoping the building will save up for its own repairs and updates as we move forward.We are going to retain the current tenants at least until next summer, then slowly start increasing rent until they leave.  

Details yet to come, hopefully we can at least retain some profit out of this quagmire!

It's a quality lower-middle class city, that still retains a relatively large tax base, with Lincoln Electric headquarters (a fortune 500 company), among other large manufacturing plants.  

(Statement of service if Veteran is still on active duty) 4) DD-1747 (Unavailability of base housing)Entitlement: If a Veteran has remaining entitlement, Veteran can obtain another VA loan while retaining ownership of his or her present original property or with the original VA loan still in effect. 

Or do they recommend I try to muscle into this market for the appreciation play even though the numbers look a little worrisome. 

When I moved out, I thought it would be good idea to retain the house as rental property and capture the long term appreciation.

So basically you have a property that you are currently living in that you have a HELOC on, and the bank is going to force you to close the HELOC once you convert it to an investment property, and you want to retain access to the ability to take out funds whenever you want without doing a conventional refi - is that right?