It's worth paying a premium for the brick buildings that were built for multifamily.

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. 

Now I spend 5 years hoping they make their payments and somehow refinance to pay off the balloon. 

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.  

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

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

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.

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.  

Hello Folks - My name is Ercilio De La Cruz (Rob).