Hey Frank, not sure who you're replying to but I want to emphasize based on what you said pretty much EVERY mortgage broker should have 10-20 options of lenders who can do this.

So you might as well be a head of the game do the cash out refinance buy the next 1-2 properties and simply refinance the original mortgage as a "rate and term" which carries a lower rate.

For active investments I advocate considering how you can diversify WITHOUT ceding your competitive advantage nor the superior profitability of the niche your in.As an example my business is running an investment fund and syndication high interest commercial mortgage loans secured by income producing real estate. 

A Mortgage Broker,Happy to connect.

It is what is left after snow removal, cutting the grass, utilities, tenant issues, parking lot issues, property taxes, mortgage payment, etc. that make a difference.

Specifically, I am looking at partnering with an individual who owns securities (stock and mutual funds) having them take out a line of credit against their portfolio (SBLOC) at a low interest rate, and using that to purchase properties rather than using a mortgage.

Your question on the loan - do you mean total mortgage (interest and principal) or just principal when you say 'paying off'?

Since I had a couple million in mortgages in my personal name, I couldn’t do it.  

If they want their money back fast like a flip then let them flip it and you buy it as a primary residence with a conventional or fha mortgage.

Using a heloc as 1st mortgage really only has a major benefit if you have idol cash sitting around from your paychecks.