Would you be able to recommend some asset managers or banks that I could start receiving tapes from ?

I don't know the name of the loan product, but he's with a local bank here in the Twin Cities.

Look for value add, development opportunities, up and coming markets and undervalued assets. 

It's not pretty to model a 150 basis point increase in cap rates but the returns remain better than idle cash and certainly better than what will happen in non-real estate asset classes if that happens. 

Lot's of great product in warm belt states changed hands 5  to 9 years ago.

@Alissa Reed @Alina T. touched on part of what you'll need to assess the Asset.

Depending on your current overall tax situation, you might want to extract some of the equity (to gain some tax advantages) and redeploy it somewhere better (if you can do that) - then you should look into an asset based LOC or cash out refinance loan.  

Cap rate is a market metric, and has nothing really to do with performance analysis of a specific asset.

We live in seaside Oregon. Our accountant and attorney is not super savvy in real estate and I just want to make sure we are getting the best advice possible, especially for tax advice/strategies for the future. I wan...

After many conversations and much thought, they agreed to 'test' the waters and turn their home into a rental property.We have since transferred the property into an LLC (Assets protection), cash-out refi  and rehabbed the property.