Hello, I'm in northern MN, and looking into getting into investing, and am looking for some advice.I'm looking at a 4 plex locally with 4 2b 1ba units.Cost is $160k, but I think it's worth closer to $180k.Yearly Rent is $26,760.I would use my heloc for down payment so basically financing the whole thing.Love the locationHas 1 lifer(been there 7 years) the current owner has not raised rent on in a while and I probably wouldn't either.Taxes are $3000Tenants pay electricAverage local income is $35K with average house price is $138,582.Seems like even @ $165k I'd be doing pretty well.I'd self manage, and fix issues, but from what I can see, there are not any pressing CapX's needed.Not sure on cost of heat yet.Any other info needed?

Look and see what tens of thousands of car owners have said about their experience.I am getting 27 mph so beware you'll be hard pressed to get to 30 mph with any mid sized SUV - unless you only drive on uncongested highways.

I read your profile and it looks like you are an "accidental" landlord, not really a landlord by choice.

You would be hard pressed to find anything at the $350K mark.

However it used to be our primary residence and we became accidental landlords when we moved. 

You will also be very hard pressed to convince an owner who wants to sell to lock in a rental for 5 years without even the possibility of getting a sale out of it at the end.

IMO, what a lot of people miss out on these forums is that while (A) it's great to start investing early but (B) if you're taking anything like engineering, life sciences, finance, accounting in school you will be hard pressed to do justice to your studies while trying to be a full time property manager/holding a job. 

@Bonifacio Capuyan, I accidentally came across this discussion and I am sorry to hear about your situation.

So basically they are saying loud and clear they dont want any professional investors utilizing their HELOC only the accidental landlord or aspiring RE investor.None the less the product is stellar.

I highly doubt they're going to press you on that...