As long  the tenants pay the rent each month, increasing their rent will be very tough and getting them to leave will be extremely tough. 

I understand the crime concerns, but why do you think traditional financing is risky?

And since you are licensed, you can potentially do some sales on the side to increase income and save up for investing.

HELOC Basics:A revolving credit line secured by your home’s equityLow interest rates, but often variableDraw period (5-10 years) → Repayment period (10-20 years)✅ Pros: Lower interest than other loans, flexible access to funds, potential tax benefits⚠ Cons: Home is collateral, payments may increase, short repayment termWhen It Makes Sense:The rental property cash flows enough to cover HELOC paymentsYou borrow conservatively (avoid over-leveraging)You have a backup plan in case of market shiftsSafer Alternatives:Save a larger down paymentConsider seller financingPartner with another investorFinal ThoughtsWith your timeline set for November 2025, take time to research markets, build connections, and plan financing wisely.📌 Key Takeaways:Out-of-state investing can work but requires a solid local team.Use online tools like BiggerPockets, Rentometer, and Roofstock for analysis.A HELOC can help, but be mindful of risks and repayment terms.

My wife and I earn over $350k a year in our jobs and all of that is now going to pay down debt.We have the option to increase our HELOC to unlock some more capital which I'm considering doing to try and get a good return on my money and pay down the debt faster, but given past experiences I'm not convinced it won't end up with more debt.What would you do at this point?

The increasing barrier to entry results in fewer new STR's coming available for sale, but also fewer options for guests to rent. 

What is your real concern? 

I would be cautious buying in the saturated areas because there are so many similarly sized properties that price is becoming increasingly the deciding factor. 

If I represent buyers, I like to include my name and contact information along with a sentence that if anything changes after the signing but before the sale, the tenant is obligated to notify me in writing or it waives any of those changes.Buyers might have other tenant concerns that are specific to a property.

Also, hyperfocus helps me find a home with the right conditions - a stable but increasing-value neighborhood.