The PM then and there gave the tenant all of my contact info and basically told me I would need to finish the eviction process. 

My question is : why are you buying an investment property if you dont have the most basic understanding of how it works?

Bathroom gutted and basic remodeled in one unit.

I currently have a W-2 job in IT that I pretty much hate and a family that I love, which is why I keep going to said job  ;)I basically want to do REI because I have had enough of the rat race and having to worry all the time about where my money is coming in and how safe is my job.

HELOC is harder to get for investment property but not impossible, similar LTV restraints but would work for lower dollar amounts, basically think of it as credit card backed by your house.You'll probably find that closing costs on a cashout might make small amounts seem unattractive... plus if the loans older you're going to have higher rates.

Outside of this, it may help to start with a few basic online sources (rentometer.com, CraigsList, etc) to give you a jumping off point and some rough market insight.  

So basically it doesnt cost them anything and you dispose of their problem?

@Jason BakerI am not sure on the condo conversions, but I would be interested to hear some feedback from people who have done it.In my experience the city inspection is very mild and a basic necessities sort of thing. 

If the issue is not overcharging, then flyers with basic info might help  i did a google search and found this https://www.google.com/search?

It basically stalled expanding my rental portfolio for about two years.