We've added value a whole lot already with some remodels(kitchen,bath, flooring, landscaping) Edit: however, have not done a refinance. 

What if your tenants flood the kitchen?

I start with demo, foundation and plumbing, then roof and electrical work if needed, paint, kitchen, bathrooms, floors, baseboards, light fixtures, etc.

We said you didn't need it, so there's a good thing there's no payment for it.But, should something come up, be it an investment opportunity, or an emergency beyond how liquid you normally stay, your kitchen just got destroyed but the insurance claim is going to take 2-3 months and your kids are hungry tonight, tenant destroyed the place and you want to turn it over as fast as possible, etc, you can click your mouse 3 times and dump $100k into your checking account, or $20k, or whatever, and only pay interest on the amount you use.Another good use-case for a HELOC is when/if you're about to disqualify yourself from getting a normal 1st position Fannie type loan.In almost all cases where someone is sitting on a bunch of equity, they should at least have a HELOC.

When we bought in 2013 we took out the carpet and installed bamboo flooring; we put $35k into a complete overhaul of the kitchen; and we added impact windows in 2015.

I believe in Baltimore City it is 5, but not sure - My question is - do you want that type of management and that type of tenant - sharing a kitchen and bathrooms? 

I have new (1 month in) renters and they complain non-stop via text messages all hours of the day and weekends, about “strong marijuana and cigarette smoke”, coming from the bathrooms, kitchen sink and oven.

We have plans to update the kitchen and bathrooms while living here for at least one year in order to comply with owner occupancy requirements, once the year is up we could sell for a profit or rent it and buy another property.

I bought the property 1 month ago and have nearly finished updating the upstairs unit (electrical, plumbing, new bathrooms, new kitchens, flooring and paint) and am moving to the downstairs unit shortly. 

Is a good tenant absolved from their responsibilities when they break a bay window with a ball, set the kitchen counter on fire, flood the bathroom and destroy the down stairs ceiling, set fire to the carpet, back their car into a garage door, no of course not.