If this is the case then typically you only have to comply when you make alterations.2.

Be sure to utilize tools of the trade for the best information.

While I don’t typically work with real estate agents to find deals, I do collaborate with other professionals throughout the process.

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).

We typically do not buy from wholesalers due to their inflated price tag. 

@Matthew Drouin had a great reply:"Typically 50% of revenue is going to go right to operating expenses on small multi family. 

There are tons of threads here on BiggerPockets where you have a new investor bashing a property manager, seller or turnkey guy and then when the experienced investors chime in it becomes very clear that the new investor wasn't telling the whole story and there typically wasn't any wrongdoing by the property manager, seller, turnkey guy or what have you.

You're marking the equities to most recent returns, the reality is a real estate investment to live in is a guaranteed rate of return and serves utility. 

While I don’t typically work with real estate agents to find deals, I do collaborate with other professionals throughout the process.

2: Could all the funds be better utilized in another deal based on the numbers you are seeing in your market?