Did you take into consideration how much the listing agent listed them for or just what the area comps led you to believe?  

From my experiences as a fellow Aussie investor, I have found it considerably easier to access finance here in AU through LOC or unsecured lending, investors etc rather than trying to get HELOC on low value properties. 

@Tyler Beers I can introduce you to the Milwaukee market if this is an area that is in consideration.

Pete (Kenwood, Crescent Heights, etc.).

Having HOAs simply means you give up a considerable amount of control of your property and the associated potential cash flow and appreciation.The HOA is your landlord and they control your investment through their control over the regulations.

That means take into consideration vacancies, maintenance, property taxes etc to make sure your not negatively geared ( losing money each month on a leveraged asset) hoping appreciation will save you down the road

 4 things a hard money lender usually  takes into a consideration before lending 1%LTV2. experience3 credit score 4 location

I'll be taking your suggestions into consideration as I move farther along with it though, for sure!

How did I get sold this crap lol)Location: Winnipeg, CanadaHow it all started:My wife and I wanted to get our own home after living with parents and being able to save considerable amounts of money.At about that time, I started listening to BP and seeing how all of these investors were succeeding with real estate.

(I just wrote a deal diary of one client's home that's estimated to bring in $9,600/mo.)Also, Fairplay is a great town south of Breckenridge that while growing in home value is still considerably less expensive than Breckenridge and can make for a great ski house.