BUT, if the extra lathe boards aren't removed, it would be a moot point... as any surface pressed up against that barrier layer, negates its effectiveness!

I am with you my friend, the lower level rental marketplace is just not efficient, you get a golden goose here and there, but on a global level, you cannot scale effectively, too much baggage to deal with, resulting in very low returns and very high tenant turnover = loss

HELOCs are the ones effected mostly by the FED jacking up the fed funds rate and are not locked in so that could spell disaster.Maybe the best play is to cash out, buy your bigger home with out worries and keep some of the money to buy your first investment property in the next 6 months when you can find a great opportunity to buy below market, and maybe use creative financing to hit your mark. 

Lookup popmoney.com  easy, effective. 

I always attend to my purchases in person and start out by saying something to the effect of, "I assume you know your home just went through a foreclosure process, I'm the new owner.

With each increase or decrease, they assess effects and determine what additional incremental action is required.

I agree, it sounds like its a effective strategy.

However, if you consistently have hard inquiries on your report and a low credit score, you may be viewed as a risky borrower If you have a good credit score, the effects on your score could be minimal, especially if you've been keeping your balances low.

All sorts of rehabs/conversions can turn a total loser into a cashflowing property. ...another example: I've built ADUs in previously unfinished basements, which turned properties that were $500/mo negative into properties that now cashflow 1000/mo ...the power move was rolling the construction debt into refis on other properties at lower rates, which more than negated the construction debt...in other words, I got paid to build the ADUs (these days, this isn't usually possible--or at least, it's a lot less likely--now that rates are rising...but who knows, rates might decrease again at some point...). ...Although certain rehabs/conversions can force cashflow, there is real skill and art to spotting properties that are good candidates for these types of rehabs/conversions. ...an effective rehab/conversion is often a lot trickier than HGTV would have you believe, and choosing the wrong property to do this can completely blow up the financial model.Another approach is to learn to find properties that have something that turns off other buyers, but which is irrelevant to cashflow, and irrelevant to your business model.

Here's a thread of another inexperienced OOS investor with similar (arguably even worse) problems at a C or lower property--I'd suggest reading this thread, as it provides some solid suggestions:https://www.biggerpockets.com/...On the bright side, there's a LOT you can learn from this type of situation (a lot of the lessons are outlined in that thread), and if you take the time to learn those lessons, it can make you a better, more effective investor.