Unfortunately the RE experts I would trust to mentor my child are in San Diego and he is at UC Santa Barbara and typically only comes down occasionally for a very busy weekend. 

Revenge is a dish best served cold.

I primarily Buy & Hold but do fix and flip occasionally. 

(Though that depends significantly on when your friend needs how much cash, and when they’ll pay it back - if they need cash occasionally, and will pay it back occasionally, then a HELOC may be worthwhile, despite what might be higher interest rates). 

Washing every dish, pan, fork a couple times a year is loads more fun while watching the waves roll in. 

While a rate of 6% is actually cheap the 7-8 points is a pay-me-now before you pay-me-again-later move and vastly excessive.Here on the other side of the continent, you would be looking at 8-10% on a private first and 13-16% on a second ... and usually only 1-3, occasionally 4, points.

Having people there occasionally in my opinion is safer than leaving it empty also.

When we are landlords we see how other people live, verses other people who see each other only as a friend, or a co-worker or an occasional acquaintance.

Occasionally a product will expand a large distance if you have a long span, which may require the install to go under the base trim and need shoe too.

I think Athmart Park, parts of Barnum and occasionally still some parts of Villa Park.