That'd eat a pretty good chunk of the cash flow from the first property I'd imagine. 

The condo is in a 15 year fixed mortgage and will be fully paid in 12 years.The question is would it make more sense to eat those monthly payments until the HELOC principle payments become due sell the house and pay it off then or refi when there is enough equity to cover the HELOC amount? 

Go figure.If I do go the eviction route it will mainly eat up the 1400 in security deposit and I’m left with barely any money to clean up the unit.Even if I’m able to contact him, since he is in a mental institution will he even be mentally stable enough to sign quit on the lease?

I am a bit of a skeptic as the property taxes really eat into the profits. 

Moved on quicker than I thought, rent was $1K less than I thought I could get because I failed to do any research, and I can't sell it without taking a loss at this point....so I eat $1K each month praying for appreciation LOL.

Just keep in mind you'll eat more in closing costs selling than a refi.

A C-D-or F class property will likely have a significantly higher ratio than an A class property, but those F class properties will come with many additional problems that can easily eat your theoretical cashflow projections alive. 

I have a tax person property taxes are my issue just eating up cash flow for me tbh.

Do you need to eat out??

I am looking to buy a 3mn property in philly right now. 2%+ each way, but/sell really eats into your returns