This becomes a short term road block for those who have added value very quickly or purchased way under market value.  

Hi I’m looking to meet up with some local investors in the Las Vegas Henderson area I’m here for a short time but would love to talk about this market and mastermind with some people.

As mentioned, the answer to that question isn't short or even terribly easy to explain.

Also, it can take a while before you get the short-term rental up to a reasonable occupancy level and nightly rate.

It also depends on what you are going to do with the proceeds should you sell it and the prospects for appreciation/rent growth for the property in the short and medium term.  

It's one of the easiest ways to get value added in short-order. 

My background in real estate investing is pretty short; I actually halfway stumbled into being a landlord recently when I rented a house I bought a few years ago for personal use because I moved out of Mississippi for work and have not been back for over a year.

@Justin Eaton I'll definitely be reaching out to you shortly. 

In short, goals:1) pay off $25k credit cards balance2) get some reserves around $10-15k(for materials) to finish renovation primary3) if anything left, maybe get some cash for down payment for another rental property So I am trying to choose between Cash Out refi vs HELOCI found two local banks that offer HELOCS on investment property. 70%LTV prime+2%(2.25%), got to pay $500-1500 closing fees.Same banks offer cash out refi for rental properties: 75%LTV, 5.5-6% 30 year fixed, 3000-4500 closing feesSeems like, if I go refi I can pull out around $83k ($105k(new loan) - $18k(current mortgage) - $4k(closing fee)=$83k $83k - $25k(credit cards) - $15k(to finish rehab) = $43k (for next investment).I am still researching and shopping around for other options, but refi seems to be a better option for right now. 

My short-term real estate goal is to purchase a home in the Providence area to rent out to other college students.