After all this, we plan on getting a heloc loan and using that money for future investments.

Let me know if I could be of any help in the future.

@Quincy Gordon Jr.Welcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.

I’ll try that in the future.

If you can refer me to one I'd appreciate it. 

Is dampness in the basement a sign of existing or future structural issues?

In my limited shopping around lately, most banks these days are looking for 12-18 months of seasoning before they will refinance based on the appraisal.The work around that was mentioned is most likely referring to the difference between traditional and cash out refinances.

@Stanly Berthil Well done sir, I see success in your future

Does this refer to the price of the rents?

Just be realistic in realizing that the ride might not start today, but in the future, and accept either result as a win.