So, I do not see the issue.

Does seem like multifamily could be targeting a transient group but I'll have to see and connect with some other investors in the area that have small multifamily rental properties to see the vacancy rates.

They might prefer to see the funds used for improvements on the property securing the HELOC.

Although I believe I can see the path to my first rental easily, I'm having a hard time figuring out how I'd get to the next one. 

@Brent Coombs have you run the numbers to see the difference in interest payments from using the HELOC strategy opposed to a conventional mortgage while paying extra each month towards principal?

They are ranked (using the price-and-rent-growth weighting algorithm) as follows:80003804018021980017800108021280239801048024980226Let’s see the average monthly price growth map again with just the top 10 zip codes:Now let’s look at the average monthly rent growth for the top 10 ranked zip codes.And now let’s look at the rent-price ratios for the top 10 zip codes:Now let’s take a look at the prices for each of these zip codes:So far, 80003 and 80219 look like the best zip codes for buy-and-hold strategies close to the front range (if we ignore Aurora, CO completely).What are your thoughts?

congrats, nice work - I'd like to see the financials/price if possible (contact info in sig)

Would love to see the math behind this.  

I see the 2 big Alabama schools both made the list.ROLL TIDE!

On one of my new home developments here in Oregon I paid a construction Risk manager a flat fee of 15k.. to over see the underground process..