Costly meaning the up keeping, tools, cars, suits needed.

I agreed to effectively a short sale: mortgagee sold property and I received all proceeds, which did not quite cover the principal amount and thus didn't cover any of the accumulated interest.

@Derek Askew Great question — you may want to look into a service that offers a nice portfolio of tools to make managing your own rental super easy (that includes tools to list your unit, screen tenants, create digital leases, collect rent online and manage maintenance requests).

I have effectively raised the NOI by $8,000 annually.

I have effectively raised the NOI by $8,000 annually.

That might be ok for a bank, who will only lend 80% of the contract price, who will require insurance be purchased in the event a buyer does not have the 20% down (PMI), but how does that in any way serve a buyer who is trying to use the appraisal as a negotiation tool?

I definitely recommend using the bigger pockets calculators under the tools tab.

When we compare the condo rentals to that of our SFH rentals, condos are cost effective and a lot less maintenance. 

https://www.biggerpockets.com/member-blogs/10042/64779-8-ways-to-effectively-hunt-for-your-vacation-house-4-free

I think there are some tax effects to a HELOC vs. a traditional mortgage, in that HELOC interest may not be tax deductible.