There are so many cool and exciting things going on.

DM me and tell me a little bit more about your situation Credit Score, Liquid Funds, and I can help as well.

Tom - my first day here I met someone from Wisconsin :) That's pretty cool.

i would assume that if i can get something low enough below market value, the equity will already be available, at least enough to cover the bulk of the original heloc. or, if i can get a small condo close to campus for a little more than double my equity, i may be able to get the loan payments low enough to recoup fairly quickly. a third option would be to spread the heloc out as down payments on more than one property. in any of these options, i think it would be a good idea to hold onto about 5k liquid for anything that might pop up. i have to start somewhere, but is this too risky?

If you want to stop the bleeding, you can try to liquidate it.

Cool sounds good Han Oh thanks for the info I'll look it up and get out to it!

I've been landlording for eight years now, and every year I toy with the idea of just liquidating it all and going somewhere with lower taxes.

In my area, I sometimes see sellers or investors selling NOTES that are performing, but they need the money and sell them cheap because the NOTE market is not very liquid like the stock market, or MLS for homes.If you run ads in local papers, run ads on bigger pockets, and really get the word out that you are looking to buy NOTES, you will begin to get people coming to you.  

30-40k liquid#1: Anti-American DreamFHA/203k loan (max in our area is 271k, 3.5% down, and PMI)buy a du/tri/quad-plex live in one side for a year and rent other sidesMove after a year. rinse repeat.#2: Semi-American DreamFHA loan/203k to buy SFH for me and my wife to live in, live in 1 year move etc.Conventional loan on much smaller du/tri/quad-plex (100-150k)#3: American dreamConventional loan, get the biggest 30 year note we can and dont think about investing, of course get a white picket fence. ( ; haha

If I did the apartment idea, it would be cool if we ended up finding the right buyer would be offer a higher price to purchase the house because he was planning on the income from the basement to offset the higher price.