I could also pay down the HELOC over time for lower monthly payments as time goes on (and subsequentially increasing the cash flow but also the equity I have stuck in the property).The downside is uncertainty about how long I'll need to wait for a better market, and the HELOC being tied up until I can sell or refinance.

Kyle is set for big time growth!

We'd all prefer have everything be new or replaced because it can solve alot of issues with tenants and the time it takes to manage a property.  

This issue has occurred several times at different properties: tenants complaining that the AC isn't cooling to a ridiculously low temperature when the ambient temp is about 40 degrees warmer.

Hello Alex- I primarily deal with long term rentals, and if you were looking into those options, would be happy to make some time to talk through any questions you may have. 

In some circumstances the NTQ goes from 5 days to 30 days (things like lapse of time evictions).

I tend to take my property off market "hold" during slow times for some painting, other small updates and would never consider it as occupied.  

We could see less homes come on the market as well as duplexes that sit for longer periods of time before going into contract.

Hugs and Strength in these difficult times. 

Because I am a full-time college student and I work part-time I ask that the interested parties submit a rental application before I show the house, but many of them refuse to give a rental application unless they can see the house first.The criteria for what I look for in a rental application are as follows:Credit report: I look to see if they have had at least 90% or higher on-time paymentsBackground check: I look to see if they have ever been evictedJob and rental references: I look for a steady income and make sure they can afford it with what they make I also call their current landlord to make sure they have been a good tenant and confirm the information the tenant gave me.I currently have it listed at $1650/month with a 12-month lease.