Could probably refi the house and use that money for rehab to buy another property and capture some equity.I realize there are many variables to this and I hope it makes sense. 

The full principal amount is due at the end of the draw period, either as a lump-sum balloon payment or according to a loan amortization schedule.[4]Another important difference from a conventional home equity loan is that the interest rate on a HELOC is variable.

It just boils down to the math- of the 4 loan variables: pv, n, i, and pmt, I'm most flexible on the i.Note holders don't have many of the tax benefits that deed holders have, so I'll have a higher tax burden on those properties.

The LOCs range from 4.4% - 8% at the moment (variable rates).

Thaddeus,There are many variables that will affect your electric bill and it is a legitimate complaint from your tenant. 

Like many things in life, there are many ways to go about this RE thing and you seem to be on the right path to sorting out the variables to help you determine the best approach for yourself. 

There are too many variables at play. 

Property taxes are always variable in the future.

There are so many variables so add 20-30% and get bids.

.- 3 "new" bathrooms to include vanities and shower wall tiling (again, budget-level materials)- Interior paint to include ceiling, walls, baseboards/trim and window casingsYes, I understand this is a LOT of work with a ton of variables that revolve around the choice of finishings, but I'm looking to gauge feasibility for labor costs associated with this type of "cosmetic+" job.