I got interested in real estate investing last year and since then have read several of the BP published books on real estate.I still have a lot of unanswered questions floating in my head but my goal is to buy my first property and some point next year. 

The paperwork to get them setup almost always meant my first rent check from agency would be about 45 days after lease start, so you need to float that.Tenants always paid with Money Order or cash, both required an actual visit to bank versus standard check that could be mobile deposited or ACH.Neutral:My tenants were not "light" on the property, but generally not overly hard either.  

I have been a contractor for 40 years , I have NEVER floated a customers project .  

If I knew it would expire, then I would have treated it like a totally floating rate loan in my mind and not invested. 

Our lending rate for IP are at 6.5-6.7% floating (not FIXED term) and yet the market is super super hot!

Some of the information above is a little hazy to me so my answer is based on the assumption that you currently have a 390k first mortgage at 2.99% and a 285k heloc balance on your investment property at some floating rate.  

You hoisted a giant "I have no idea what I am talking about/doing" banner right there. 

If you need a $50,000 loan, that would cause someone who does not know you to think that there is not millions of dollars floating out there to go after.

Sadly the property no longer exists; it was on Riverbend Drive sitting on the Swannanoa River, and like all nine houses sitting on the river, it was swept away and floated down the river.

Not all loans ballon at 5 years, some reset and the rate floats.