the rental then holds the mortgage - is that how it works?

I'm looking to tackle this as my next project and wanted to see if anyone had any advice/experience with this type of structure I should know.

I take the report with a grain of salt. 

Hi BP Family,I am looking to replace a 17 year old AC system in a 1200 sqft townhome in the Kansas City area and I was wondering how much that might cost.

Total rent between the three is $3200/month.I have an adjustable 20 year mortgage with a balance of $100,000~ at 4.95% that is set to adjust in 2026.I also have a HELOC on that property at $180K~ with a 9.75% rate.

Being we could do majority of the work ourselves now the house is worth well over 200k.

And when you find "the one," don't skip the home inspection.

**Instant Reports**: Generate essential financial reports like Profit & Loss Statements and Balance Sheets at the click of a button.

The advantage of my "day" job is i have a lot of spare time sitting around hotels with little to nothing to do.

Unfortunately, it seems like the state of Texas forbids HELOC's on investment properties and I am reluctant to do a cash out refi (or sell the properties) as my current hard money rates on these properties are between 4.5%-6%.