This mainly related to quick response times, following up with applicants, and flexibility around touring.

With relatively limited new build completions/starts and even modest population growth, rental demand remains resilient.What're you guys seeing in your market? 

Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

Here's how each option stacks up, with tax considerations included:Cash-Out Refi:Converts short-term debt into long-term, fixed financing.Tax benefit: Interest on the new mortgage is fully deductible as a rental property expense if proceeds are used for business/investment purposes (like paying off the HELOC).No taxes due on the cash-out amount, since it's a loan, not income.Best for long-term holding, but consider closing costs and possibly higher rates.DSCR Loan (Debt Service Coverage Ratio):Loan approval based on rental income, not personal income—useful if your DTI is high.Tax benefit: Interest remains deductible if the loan funds relate to the rental (e.g., paying off improvement-related HELOC).DSCR loans typically have higher interest rates and possible prepayment penalties, which you’ll want to model out.Keep the HELOC:Gives flexibility with interest-only payments.Tax warning: Interest is only deductible if funds were used directly for rental-related expenses.

The harm to a little one from a fall related to a faulty high chair seemed a little too high risk for us.

The house is located in a relatively nice neighborhood near universities and plaza.

Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

I was in college at the time of investment and didn't have the bandwidth to take on a renovation, so all three properties were relatively straight forward: 20% down fixed 30-year, place a tenant, wait. 

The rents there seem to be high relative to those purchase prices.