@Logan Wells Appeals of real estate for me is.. the ability to purchase with leverage, if you buy right you can outpace the 8-11% easily, you can manage the investment directly (i.e.

The HELOC is nice because it is easy and inexpensive to setup and maintain, you don't need to give up your great fixed rate terms, you don't pay interest on money you don't borrow and yet it is still quickly and easily available to you for 10 years or so.

The current owner is renting out each unit for $425 but I believe with $10,000 in repairs I could easily rent each unit for $500.

You could easily get at 15% PM that absorbs the cost of a 10% PM that passes through the cost.  

@Terry Lao   I am primarily working in C to B towns and finding full copper rip outs at that price is easily doable.  

You don't want to make a tense situation worse, and like I read above more damage could easily be done, If the tenant leans towards violence. ( Not sure if they do but I won't chance it. 

While you can most certainly learn new construction on your own, you will find that your first project is entirely too inefficient and costly by making mistakes that can easily be avoided.

At first glance its so big that its hard to tell if its turning or going strait, but if you get up in a helicopter, you could see the prop wash behind it and easily tell.

An agent can easily put properties under contract, and sell that contract to a buyer.

BTW, When I borrowed hard money at 16%, those were properties that were easily saleable, quickly.