As far as that goes I would feel comfortable playing with the rent a bit, you can raise it slightly every time and see how the market reacts.

LOL, Shweta - I have incorporated these points into my elevator pitch :)  I am just finishing up a $75M 506(b) equity raise in conjunction with an MHC (acquirer/owner/operator) client of mine. 

BTW.. the listing agent raised the price and mis-marked the actual plots on Zillow recently !

They say that they want to create more affordable housing and apparently their strategy is to raise the cost of providing housing?   

I agreed to not raise her rent for a year at lease renewal since she always pays on time and has been a tenant for over 4 years. 

Its a duplex one bed one bath on each side both renting under market value but rents can easily be raised to at least $1,100 or higher.

That takes time also, keep paying on time and credit card debt in check!

The HELOC works like a credit card that is using your property as collateral (although the interest is not calculated like a credit card as it will accrue daily).

My Daughter was raised there as well.

Currently our mortgage plus all taxes and fees equal to $1100 on this property so this is a very hot rental for us.My question is would it be wise to abandon a 118K loan at 3.5% interest rate and do a refi cash out at 4.65% for 300K and take that 182K and invest it into more properties or leave it as is.A 300K loan will raise our monthly expense from $1100 to $2200 on this house which is still well under what the property is producing in passive income.