HELOC Recommendations - STR/AirBnb Rookies Getting Started!

[Kathy Rautmann]

Hi everyone! 

I have been a long time lurker on the forums and finally decided to jump in after spending the last couple years reading books, listening to podcasts and following numerous real estate gurus on social media! 

My husband and I are currently looking at taking out a HELOC on our primary residence to fund the purchase of our first short term rental which will ultimately also become our primary residence in the next few months. I work as a traveling nurse taking on 13 week contracts throughout the country and in August we plan to list our current primary residence for sale (we have about 40% equity in the property at this time). We plan to purchase an RV and live in it during my out of state contracts and return to our STR/new primary residence in between my contracts. We are hoping to find this property off-market and build some equity into it through rehabing it. Once the rehab is complete we plan to do a cash-out refi to then BRRRR and repeat with another investment property! I realize this may all sound a bit confusing, but I hope I was able to get my thoughts across!

I'd like to hear any suggestions or advice anyone may have for us! Also would appreciate lender recommendations for the HELOC! Thanks in advance!