Cash out vs Heloc vs do nothing advice on financing

[Jerry D.]

I am at a crossroads and need some advice.
My goal is to have enough income from my rentals to quit my job and manage full time. I think I am about 7-10 more houses away from acheiving this goal. Currently I have 9 rentals and my house. If you include my house I have 7 mortgages. Which means I have 3 of my rentals that I own free and clear. I am young and want to leverage the properties to buy more. Currently using the 50% formula they are all cash flowing though I am managing them all myself. So here is the scenarios I am facing.

A-do nothing; save up money for my next purchase. I will need 25% of next down payment. I should be able to get three more traditional mortgages. After that I will need to get a portfolio loan from a local bank. Rates on that will be a little higher and payback period will be 15 years instead of 30 which hurts cashflow. Rates will be about 5-6% 30 year fixed. I should be able to qualify for 3 more properties financed traditionally(Sold to fannie and freddie) After 10 properties financed I would then need to go to a local lender which I have found which will give me terms of 20% down and 15 year fixed at 5.9-6.3. Plus side to this scenario is that my cash flow is great, no more debt taken on.(refi or heloc) But down side is less leverage. I will have a ton of my own cash sitting in 3 houses that I could better use to invest in other houses.

Scenario B- Get a heloc on one or all three properties.(ltv 70%) Terms 10 year term. Interest only payments. Rates about 6% amortized over thirty years. After 10 years any amount on line would then become a loan. Over 20k goes into a 30 year fixed with whatever the rates are at the time. Under 20k goes into a 15 year loan. Good thing with this scenario is no closing cost at all. Bad side is I like having a fixed rate and feel interest rates in 10 years will be much higher then the current 5% I can lock in currently. The rate on the heloc will fluctate. The other downside is that for every house I get a heloc on is one less that I can get traditional financing on. I am only allowed three more and I will then need to go to 15 year fixed instead which eats into cashflow more.

Scenario C
I can do a cashout refi of one or all three with a bank that will give me 30year fixed rate at 5%.(Ltv of 70%) Problem is closing cost are around 4k for each house. For each one again I lose the ability to buy and finance my next house at a traditional terms. Good thing is I will have a great rate at 30 years which will help cashflow a month. It will be locked in and I will have a ton of money to either buy about 7-10 more houses or a small multifamily, or down payment on a multifamily. Given what my reserves are at the time.

Not sure if this post makes since it does to me. Feel free to comment and ask questions. I would love to hear what yall have to say.