Help! Heloc issues looking for Advice

[Eric Malone]

So Im a little bummed and discouraged. After calling 25 banks i found a Bank (Citizens) to do a heloc on my rental property in third position. Its a condo with a HOA. After all the paperwork, applying for the heloc, and running Comps close to my property i was expecting at a low range appraisal to come in at 305,00ish give or take. The Bank came back at 290,000. I felt it was a little low so i asked for a second option appraisal which then came in at 260,000. JEEZ and with that being said the bank told me im at 101% of loan to value. So now im not to sure where to turn, but im determine to figure out a way. The numbers are below:

Property Purchase price $225,000

Looking for a $20,000 Heloc (down payment for next property)

Zillow,Redfin,Trulia : EST. Avgerage $335,000

Mortgage Balance as of Today: $201,987

Citizens Bank Heloc Offer: 4 year, revolving, 80% LTV.

So whats my next Move: Continue to save until i have enough for next down payment? Have spouse take out a Personal Loan gift it to me then use it as down payment then apply for a mortgage then pay off the loan with cash flow from would be two rental properties?

Thoughts?