COFR or LOC on Cash Property (Best option and advice on terms)

[Jared McCullough]

Currently looking at 2 properties of which both are reasonably assumed to be obtainable with $25k after closing. I have some extra money in savings so would like to turn it into cash flow properties by getting my money back out (i.e. I am willing to wait a few months to get the money back out). Conservatively I am estimating that there may be $5k in repairs thus why I am looking to get the $30k. Both properties should be easily over $40k appraisals so I don't see a problem with getting the $30K back out of it and repeating the process for the next year or so or until I find a reason I need the $25k. This being said I would still plan on at some point placing the $25K back into my back account. 

I have been researching for advice on what loan type is best for these lower value home prices as most of what I see on here tends to be larger value homes with previous financing before the COFR. 

My first question relates to which is the better loan type as I understand the COFR is going to have more upfront costs but inversely would these be lower based upon the price that I am buying in at? I am basically looking for a rough estimate of what is going to be the cheaper route between a LOC or COFR using the same loan terms.

My second question then relates to loan terms. I know most I see use 30 year notes I have been doing a lot of research on this and completely understand the short term capital gained by using a 30 year instead of 10 or 15 year (i.e. gross revenue is greater per month). My concern is the amount of interest you pay over the life of the loan so it is almost like deferred capital instead of gained capital. My initial thought was 10 years makes more sense in that after 10 years you now have property that is running full profit margins but I understand that for every house you do this in that is lost capital in the short term that could be being reinvested. I was hoping to find some calculator which could build a portfolio of houses then forecast the difference between taking 10 years versus 30 years but unfortunately could not (i.e. trying to build something in excel at the moment). With this though I see most use 30 year loans but this also is representative that most have higher value homes with higher rent so your net cashflow is substantially higher. I am looking at houses with a general cap of $650-$750. So you are talking only a few thousand per house between a 10 year and 30 year. I was hoping to have someone who may have dabbled in both explain their logic and what their end goal was. (i.e. if you end goal was to have infinite houses then obviously the 30 year is going to make more sense).