Your 2 best options are what you've already mentioned – the biggest question you need to answer is what would work for you and how much of a rush you're in to snag your next investment property.If you did a HELOC, you would have to pay that money back – but if you got a property that you could BRRRR, then you'd hopefully be able to pay off the HELOC when you refinance.If you refinanced your property now to higher rates, then yes you'd take a hit with the higher mortgage, but you'd have cash on hand that you would not owe back.Personally, I refinanced a property in May 2022 that I had about $400K equity in.

I think the main difference is the first year or two having the lease versus not having the lease for a LTR will be the biggest thing that makes a difference.

YES, we may be a little biased, but check out our blog here on BP comparing Detroit to other cities and Deep Dives on Metro Detroit cities & neighborhoods: https://www.biggerpockets.com/...Your biggest question shouldn't be WHERE to invest, but HOW you will invest!

The biggest challenge was getting the utilities turned on, as I needed to get the city developer involved in pulling permits and getting the property certified.

@Tim Marshall,When I hear dirt floor and working on cars, my biggest concern is the environmental issues you might run into in the future.

The biggest expense is the 10% to 20% downpayment. 

@Tanner Cory The two biggest factors in a market you should look at are population growth and job opportunities.

I'm under contract to buy 32-units in the southwest suburbs of Chicago (by far my biggest purchase). 

Nevertheless, I wanted to share my biggest mistake yet.

I've owned many SF rentals and several apartments, but  have never owned a duplex, triplex or quad.It seems to me the biggest advantage of the plexes are that they generally provide higher cash flow.