The important thing to understand with the market right now is that there aren't very many people buying - because the rates are so high. 

Very informative and I highly recommend! 

-obviously this is super high level and I don't have all the details figured out....but I'd love your input. 

With townhomes and condos not appreciating as much and rates still high - I want to make sure we're making a good long-term decision by buying instead of renting. 

I moved out of California about 4 year ago and sold everything I had there because although the rental would have kept high returns, I didn't trust the laws and lack of landlord rights in liberal states.

ARV=$260K, (Zillow estimates this one a bit too high)Purchase= $11KRepairs= $50K -$60K  (we spend far more on the rehab for reasons that are beyond the scope of this message).Hard to believe for most, but true...I won't even get into how much we could have wholesaled this one for!

However, I would estimate your internet for $100 or less through Comcast (high speed internet only with smart tv apps), $100 for water, and $400 for electric/gas. 

There are some missing pieces of data needed to make an in depth analysis from where we sit and give you more sound advice, however I own/manage property in Tampa which is a highly producing market and:- With $300k to play with you can acquire a $1M property or more which does provide the best cash flow- On a $1M acquisition and $200k (or less down possible) you can achieve 10-30% CoC returns, likely 15% inclusive of management is possible.- Do not forget about appreciation, which is where the real wealth comes from. 

I was turned down for a HELOC with a different lender (a local credit union who would've given me more credit, but determined my current debt-to-income is too high, especially since the rental property isn't generating rent at the moment).I know that I can do a cash-out refi on the rental property in a couple months.

Often times you might consider cashing in like selling high stocks before a crash, but with inventory and housing scarcity in general, I don't think that's the play.