Make sure your PM has systems in place that make things automated and is able to maximize income.

HELOCs also typically have balloons after 5 or 10 years, while you may be able to get a 30 years long low payments 2nd mortgage to maximize your cashflow from the new duplex.

I do want a good return on my investments, but if there's a way that I could shave a few basis points or percentage points off my return (so that it is still profitable) AND I have a positive impact on a family, community,...then I'm more than willing to do so.I understand it limits my potential partnerships but after going to b-school with a bunch of folks who were solely focused on maximizing shareholder profits at all costs... ehhh I'll pass.  

But, over the longer haul, it won't maximize your appreciation except by sheer dumb luck.On the other hand, it will maximize your cash flow, which does directly affect the net present value of the investment at any given moment.

., and California, I wouldn't recommend operating in those areas without a CPA/CPA firm with understanding of those state and local tax laws.There are economies of scale when it comes to these things, so my recommendation is to focus on a particular area for most of your investments to maximize the benefit of the legal and accounting advice you receive.

What you can do is properly position your property by Features, Location, and Condition to maximize the amount you can charge.  

Like anything else, it will vary market to market and you need to test your approaches to maximize results.

Interest only mortgages seem to be the easiest way to maximize profits early, ARMs, fixed.

My wife and I want to maximize number of conventional loans.

I help my clients strategize on when the property should be "placed into service" to maximize expenses that can be classified as repairs and currently deducted, rather than depreciated over 27.5 years.