A heloc is an open end mortgage or in simple terms its a high risk credit line similar to a credit card that sits in 2nd lien position adding another trade line to your credit and reducing DTI.Just like a credit card if you ever miss a payment on any debts on credit or if your scores drop unexpectedly they bank can close or reduce your line of credit.

Unfortunately you are going to get different answers from different people, especially from Realtors trying to solicit business in their market.What I have been noticing is that even in landlord friendly markets, prices are high.

The rate will be high though. 

But am wondering if there is already a quality reservoir of information out there that folks are familiar with.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Josh - I think the exercise that would be good to go through is to develop a pro forma showing your current revenue/expenses/income as well as a projection for future years.

Will check out that book as a high level overview 

Low or no money down can be high-risk and should only be attempted when you have a proven track record and really know what you are doing.

If you haven't done any flips in the area, HML rates will be high for you to start with no verifiable track record locally.

.- Continual market analysis to keep your prices neither too high or too low- For software, you'll need a PMS, some system for tracking operations tasks (we use Breezeway), communications tools for internal and external (we use Slack and OpenPhone, respectively)- The decision to self manage or outsource is a very personal one.