If your asset has appreciated well enough, you can take a line of credit or perform a cash out refinance.

We probably have the lowest amount of 2 to 4 unit properties of any major metro area to begin with, and yeah probably I bet over a quarter of them that were built have already been converted to condos.

Large cash and large credit line. 

But if the HOA is second in line after the primary loan then HOA could get paid back almost all of what they are owed.What I'm trying to figure out is whether the HOA is pushing towards foreclosure but would only actually be able to recoup 6 months of assessments. 

Even if I️ am not using all or even part of the line?

Then, if you have a lot of equity in those rentals, instead of looking for a HELOC on individual rentals you can get a business line of credit that using the equity in the properties as collateral for the loan.  

Right now I have on the following on my radar:$3k (immediate): W/D and hookups$15k (~2 years): 2x heating conversion to natural gas and baseboard heating for 3rd floor$15k (~5 years): House sidingI've budgeted $500/month for capex and am putting it into a savings account.Down the line, once i'm under 80% LTV (5 years w/o appreciation), I'm not certain if I should consider using a HELOC for capex or try to rely on a savings account. 

Research your local apartment rental rates and use them as a guide line based on number of bed rooms.

That must be for personal lines of credit.

Live & learn....The settlement statement - on the line "Mortgage Payoff to 'our names' it listed the amount wired to us - which for some odd reason was the total amount MINUS one day interest.