When looking at the property today, and the current rents that it is getting, anyone can see that the property is clearly underperforming.

If you do not have a property lined up already, it may make more sense to go with A HELOC.

We are interested in a property next door to our current flip, but our funds are tied up in the current house.

Hi @Lake Bradford, there are some properties that are still available for rental and you can limit your search to those or you can consider buying and once you decide if you want to move elsewhere, sell the condo and take the equity/appreciation and invest in a home elsewhere. 

If your adjusted gross income (AGI) exceeds $150K and you are not classified as a real estate professional, passive losses from rental properties cannot be used to offset your earned income.

However, I heard East Cleveland is a D to F class area.For those of you with rental properties at or near East Cleveland, what is it like managing rental properties over there?

For example, sharing details like an example property address, how much of your own capital you're able to contribute, your goals for the property, and what your exit strategy looks like can all help potential lenders better understand the situation and make informed decisions.

@Stephanie Olejownik I bought 5 of these properties this year.

On the other hand, it could also mean there are lots of other desirable houses hitting the market, making older properties less desirable and/or lowering demand. 

What they showed is that the small changes to the property over time did not have anything to do with the second unit the home had and it was always constructed and used as a 2 family.