From my experience when I was looking to buy a home last summer, I’ve learned quite a lot about what it takes to make an investment like this happen.

With spring and summer being the peak.

Nobody here has any vested interest in your failure or success except that with your success we can all celebrate with you...with failure, we all are sad and wish we could have given you advice before you stepped off the ledge.I have been tempted to use a HELOC in the same manner, and i have resisted because where i live is not worth risking. 

Summer is ideal for getting top rent rates locked in.

I would jump on it because this would put the end of the lease in the spring/summer verses the winter months.

@Becca Summers Thanks.

This particular area is really interesting because you can live here most of the year and if you want to travel during the winter or summer months, you can rent your property month to month and use your excess income to cover your living expenses abroad (especially southeast Asia).

I love the Cape and think I could make some good money with summer rentals. but driving to work every day is killing my car.

It's usually a little tougher finding a tenant in the winter months vs spring or early summer. 

Next summer I'm looking at taping equity in my houses and sitting on the cash waiting like I did last time, for the right buying opportunity to arise...