Not looking to refinance due to the great interest rates  4% on 30 year loans but would have not talked to any lenders that will do HELOC's yet.   

NONE of them had the phone numbers right, even the best rated sellers.

However we are in a market with higher interest rates and prices haven't really come down.

I was thinking there was a reason as a landlord to do this and make it easier to adjust rates since you are probably going month to month. 

Instead, rates are increasing.   

Hi @Norma Guardado, I would reach out to several lenders and compare rates/fees. 

You are probably better will serve to invest in the Chicagoland market particularly on the southside where your cash flow margins and cap Rates are higher much higher.

Whether or not it is worth doing a cost segregation study on it or not depends primarily on your purchase price, the size of each unit and your tax rate.

But at times can be a good place to start to build up a portfolio and future cash for investment instead of waiting for your equity or the world to decide we can have low interest rates… which sounds like that’s what you are suggesting for me to do.

I can't cashflow LTRs because I can't find them cheap enough with today's mortgage rates, so I'm looking for my next STR now.