As you in the PNW know, the housing market is tough and those rentals are harder and harder to find.

I think the reserves aspect gets glossed over on a lot of posts, but it can mean the difference between sleeping well and a fire sale of properties when things get tough.

I would greatly appreciate any advice you all may have for me.STATS for property & self :-Primary SFH since 11/2018-No other loans (no student loans, personal loans, or car loans)-Credit cards: 4 in total with zero balances -W2 employee Questions:-Is it better to get a home appraisal before applying for the HELOC, so I know a more accurate estimate of equity?

@Mantas Motekaitis a HELOC can be tough to get sometimes on a non-owner occupied.

I can't imagine it will be tough to rent it out to some reliable tenants either.

this is a tough one...

Its tough to find a property management company that will manage homes that bring in less then 1000 a month.

Those are the big financial risks in early 1900s homes, and if they've been addressed, they can make for nice houses to add to your portfolio.A good, investor-friendly agent will know how to evaluate those homes and give you good buying advice.As for locations, the Midwest still has plenty of 3/2 houses that list under 200k, but they are getting tough to find in ideal neighborhoods.

Instead of ruing the extra work that Section 8 now entails, you might instead train one or two employees (if you have employees) to specialize in Section 8, then market that service to other LLs in Colorado that have the same gripes as you but don't want to put in the legwork to make it work.

Assuming you are an hourly or salary type of employee and not a commission based one all you need is two paystubs at the new job and you can qualify for a residential loan on a duplex.