Shop for lower closing cost rates, consider a HELOC, or wait some time and let the equity build.

Why would you not shop around for the best lender whenever you plan to take out a new loan of any kind?

Think about it this way: if I go out and crush a six-pack, drive home, and get there safely with no accident, does that mean that I made a smart decision or made the right choice?

I own 2 and am passively shopping again.Also was wondering if you could define co-host. 

It's a reference and a data point, but it is a pixel and not a picture.Condition is also a major factor; we get typically 200 to 300 more than calculated, because the condition is nicer than average and people are willing to pay for that.PM's are often a bit on the low conservative side, understandably, they don't want to overpromise, also it makes it a bit harder to find a great tenant.Size is another major factor; tenants are very much shopping for square footage.

HELOCs are typically for owner occupied properties only so I would shop around for a Cash Out Refi or a Line of Credit on the property. 

Put in nicer appliances, some modern tech tools such as smart detectors and thermostats.

What I would like to know is if this is a smart buy?

Looking forward to connecting and learning a lot from all you smart RE investors out there and hopefully one day I can return the favor!!

Feel free to reach out if you have any questions or want to talk shop!