Gutting that one down to the studs and completely rebuilding it - new drywall, windows, insulation and all - first time I've completed something so major - about at the halfway point and excited to see it when it's done - near Central and oliver.

But now what I already have another rental in Kansas that makes around 300 a month but the market has slowed down a lot because of oil prices.

Some things Houston offers that are so hard to find in any other markets:Critical mass (4 th largest city and still growing fast)Low cost of entry and housing cost 30% below other large cities  (buy a $150K house that rents for $1,500/mnth)Diverse and resilient economy and population** passed NYC for most diverse city int he nation last year, Lost >80,000 oil and gas jobs in last 2 years and still put on more jobs than we lost (highest employment rate in city's history today)   Still great TK opportunity here, I work with them everyday ;-)Houston (and TX) are creating jobs as fast or faster than any other area, this is drawing people to the area, they need housing, there is a shortage of available, affordable,  quality housing.

I work in the oil and gas business, and have seen the impact to individuals over the last few years.  

@Oliver Santiago - talk to a lender who you'd like to do the refi/heloc with and ask them.

I would say as far as any other specifics, I want to get multifamily units 6 units and above and start doing single family homes for flipping but I have never dealt with the oil heating units that they have out there and that scares me because I do not want find out how much that cost to fix them and have that put me in a bad situation.

The town is very small, 2500, with a junior college (enrollment 750), hospital and mining/quarry/oil/gas industry.

What I received in return were lease agreements from 2016 which are month to month and a document called a "financial statement" which consisted of a list of expenses (oil, sewer/water) That was it!  

I have a Hunter "oil" type (where you add oil occasionally) in my living room that has been running almost non-stop whisper quiet for almost 30 years.

@Rigo Ventura I lived in Mount Olive for a few years which is a town near Hopatcong.