If your existing rates are 3.25% and 4.25%, you are 100% going to take a hit on rates and subsequently, cash flow. 

I’m also weary about what’s going on in the housing market right now with high interest rates housing will go down immensely in prices.

It doesn't take a rocket scientist to follow the money-bank transfers or receipts to show rent is being paid to the owner of the home or a PM and a copy of the lease. 

.- Both boilers installed new 2017- Both electric panels upgraded 2015  - Shared Backyard access for bottom 2 units- No Parking, No Central Air- House built before 1900- Roof about 20Yrs old- Assume Fed cuts rate at least .25 point later this year Any thoughts would be appreciated.

The biggest constraint on these communities is financing rate uncertainty.

A deal could look good at 7% interest rate with 25% down, but underperform at 7.5% and 30% down. 

I vividly remember the countless hours spent driving to and from remote locations in rural Manitoba, alternating between early BP podcasts and Jim Rohn recordings.Over the next two years, I adopted an extremely frugal lifestyle, enabling me to achieve a 75% savings rate, sold my custom truck for a used Toyota, traded my new home in the burbs for a duplex (house-hack) in a challenging neighbourhood of Winnipeg where attempted break-ins were commonplace.

He would be safer in a savings account at that rate (I know what you're thinking... appreciation, though).

Assume a 10% (pulled out of the air number) interest rate on the heloc.

They also claim that their property management fee is 10%, which is true as long as the unit is occupied, but if you factor in the first month rent payment for placing a tenant and a 5% vacancy rate (about once every two years) then the property management fee is closer to 15%.