Paying off the HELOC would be done from your monthly excess cashflow - from personal income and from the rent.If you want to acquire more properties, you will have to obtain additional funds from "other people's money".

So if you were going to jump in now, you need to think about having excess (personal) reserves to makes sure you can take care of your tenant in the event something big goes wrong.  

I imagine I will funnel all my excess cash flow into it once I use it with the intent to then use it multiple times over. 

90k in expenses per year - that seems extremely excessive.

The agent described it to me as an "excess and surplus lines carrier".

If not then don't just throw your funds into something just because you want it "working for you", that's a sure way to solve your excess cash problem you won't have it for very long.Interest rates are admittedly very low so too much idle cash is an issue, but you certainly won't solve it by haphazardly putting money into to the first "high yielding opportunity" you run into for expediency sake.Excercise a degree of patience and don't compromise well thought out selection criteria.

. :( Some of the ceiling had what I believe is asphalt saturated organic felt, trifolded and nailed, I assume as a moisture barrier.

Financial obligations (bank payments + rent) as a percentage of disposable income is at a 40-year low.The average household wealth of the bottom 50% of households is at a historic high...there is no comparable period whatsoever.If you back out real estate gains, net worth is over 100% higher than pre-pandemic levels for the bottom 50% of households.Bank deposit balances of the the bottom 50% are $10,000+ and $3,000 above pre-pandemic levels, and kept increasing in 4Q21 after 3 quarters of increasing inflation and lower fiscal support payments.Nominal wage growth for the lowest income quartile is growing at the same pace as inflation (most important stat on the page).2020 had large gains in real wage growth; so, even though real wage growth is severely negative for the past year, the 2-year trend is break even.If real wage growth is -1%, it would take ~6 years to burn off the excess savings of the average bottom 50% of households.

To me, that’s excessive. 1 month should be plenty, and if you are having issues where it’s not, then you need to increase your rental standards and make them more stringent. 

As mentioned in my previous post, the owner of the property is entitled to the excess proceeds of the auction.