Anyway, I am looking at doing my first BRRRR and have considered two paths to getting the 'B' done with a cash offer:1)  take a HELO out of my existing rental to supplement the cash I have on hand for the full amount of purchase2)  partner with someone to supplement the cash I have on hand for the full amount of purchaseMy concern is, even though I have excellent credit, will using the HELO for the purchase hinder my being able to complete the refi on this BRRRR?

They can change quality down to D, but I don't see that often. 

We bought a 5.5 million retail center in Texas and are now looking up to 7 million for the next one.Retail NNN STNL or MTNL you can get passive at for quality at about the 1.5 million purchase price or higher whereas multifamily you are looking at about 80 to 100 units and quality about 75k a door or more so about 6 to 7 million in price to be more hands off with management in place and layers of repair people.Syndication you can diversify but you lose control and are sharing returns with the sponsor.

They are generally looking for quality properties in major growth markets and strong sponsors. 

@Chris Dengel The problem with the software is that it is not the accepted quality report that the IRS requires.https://www.irs.gov/businesses/cost-segregation-audit-techniques-guide-chapter-3-cost-segregation-approachesI'm not sure what kind of quotes you got, but the fact that you placed the two properties in service at different times, means yo would need to produce two separate reports.

Do you have a a good resource for checking into neighborhood quality that youd recommend?

Personal credit is excellent but the banks keep telling me that I have too many accounts, although I don’t have balances on most of them.

For example, shop around for sales on tile that is being discontinued, and then put those savings into better quality light fixtures that make a statement.Pricing Yourself Out of the MarketYour work is done, and you are ready to list.

Charlestown is an excellent place to invest in right now.

Thanks BiggerPockets for the quality of information that you deliver!!!