Whatever approach aligns with your goals, I would hook up with a solid team focused on that investment strategy with the experience behind them—no need to pay your dues if someone else has and you can learn from them. 

Less than 10 minutes and they are done.Self Managed, Low Volume - these folks collect the same rent every month, have minimal expenses beyond their mortgage and find it very easy to collect the few documents they have to report it. 

Then they have to sign a W-9 before we'll pay them.So, we've never had to deal with illegals, etc.

Right now you have $1,000 in cash flow that can be used to fund other projects (seed money), pay you in profit to supplement your lifestyle, or fill in any gaps for underperforming properties.  

I pay for prop stream and love the amount of detail you can add into a search. 

If you do find a PMC willing to do this, expect to pay quite a bit more for all the extra hassles!

However, after talking to some loan professionals, it seems that there are always origination fees, appraisal fees etc.My question is, what fees should I expect to pay when opening up my first HELOC.  

Using mortgage debt at 6-7% on a refinance to pay off higher rate debt such as a credit card at 15-25% is a savings!

You are going to pay more for something new so you might take a look on the local Craigslist, FB marketplace or OfferUP and see what is out there.

Hi @Jason ThonIf you are looking to connect with folks on MTR in Duluth, I'd be happy to connect!