Should I try to buy rental property using HELOC?

Hello everyone, I’ve been speaking with landlords/ property managers to better understand the operational challenges they’re facing and if they resolved it, then how did they do it.

If yes, are there steps in place for an easy transition - Do they have property management companies in place?

The newer the property the better. 

I also like Thomas's idea if you are ever considering moving up from this property.

Seems that properties are relatively affordable and one of my friends bought his first investment property out there. 

While I've found some good properties, it's hard finding them.

I have access to the property and can do whatever I want to it without their permission...per my attorney. 

If the property won’t cash flow as a long-term rental at $1,600 per month, you may want to negotiate the purchase price, explore creative financing or consider holding off until the numbers make sense.

When you already have a property in service, having a pro handle depreciation and year-end strategy can easily save more than it costs.