Power the notes down, pull equity and buy more.  

As Charlie mentioned, the bank will take into account 75% of the projected rents of the property and add that # to your income which will increase your purchasing power (I wouldnt be surprised if you could get pre-approved for a price in the $400s or $500s, although I dont know your full profile including credit and income). 

I read through this because it was tagged as Sugar Land / Richmond Texas and they e-mailed me about it. 

I have also accumulated $3k worth of tools.I'm also figuring the power of depreciation is not as great as deducting in the current year as depreciation recapture will take place in the event the house is sold down the road. 

I had the honor of going on the Powered by Podio Podcast, hosted by someone I think is changing EVERYTHING for real estate investors in terms of systems.

It is a simple, scalable, and very powerful method in learning the ins-and-outs of building a team, finding and buying a property, property management, adding value to the property, etc, without having to assume a lot of risk of losing money.

Depending on how much rent you are missing out on it might make sense to pay $100-150/mnth for landscaping, power wash, touch up paint until you get the tenants you need and then cut him off.

Do you have adequate earning power and/or reserves to ensure that HELOC gets paid back, should this deal not go exactly according to plan?

I don’t know what happened most recently whether the cable was lowered at the power pole or the garage was built underneath it.

@Junior Soares yes I’m debating liquidating some to have the purchasing power Incase of a recession however I also don’t want to make my plans dependent upon a recession either.