You could get into a solid multi-unit or a single-family rental with real cash flow instead of hoping your Katy rental eventually fills.Not saying you should walk just yet, but if leasing drags out longer than expected, would you consider selling and reinvesting somewhere with better returns?

Since the HELOC was used for a business use (renovating the rental) you can deduct the loan interest against that rental using the interest tracing rules found in §1.163-10T. 

Given your buy box, keep an eye out for properties with strong rental demand and minimal major repairs.

My fiancé and I are going to be building our first rental property this spring.

A recent article discusses how Bloomington is considering flexible zoning to support dorm-style units, aiming to provide housing solutions for residents earning 30% of the area median income (AMI). finance-commerce.comThe city has successfully added new rental units in the 50% and 60% AMI bands but faces challenges in creating units for the 30% AMI bracket due to financial constraints.

BTW: did you check local ordinances about boarding room rentals (which this would be)?

Hello AllI have a opportunity to purchase a 3 unit rental property. how should I structure the offer and what should be required in it.Does the seller provide a fee and clear Title with Title insurance, should the seller be required to evict the tenants before I purchase, what verifications or contingencies should i include. etc......ThanksJeff

In exchange for less documentation, the HML charges a higher interest rate 

If you're looking for insights or need financing options for flips or rentals, I'd be happy to help.

I already have 5 rentals jsut trying to scale  little bit.