The goal is for him to slowly replenish the complex with more quality tenants.

I am in position to pay off with cash with some help from home equity line of credit  or pay off totally with cash and use home equity line of credit for any emergency cash needs for a year to replenish my reserves Need advice to make better decision I am not in rental or real estate business .

Any yes, this deal would take a greater percentage of my reserves  even though I can fairly quickly replenish it via my JOB.  

The idea is to purchase with cash, rehab it, rent it out, season and refinance, then pay back on the HELOC to replenish those funds.So I found a lender and went through the application process and we got word yesterday that they don't qualify.

After closing I want to borrow $20k from my relative to replenish my bank account so I can have buying power.

I figured I would have to let the house "season" for 6 months to a year so that I have time to BRRR - renovate it and let natural appreciation hopefully raise it to a level that I can get most (if not all) of my original HELOC out to replenish my stores. 

With a HELOC you can use the cash, replenish and use it again.  

You may have to explain to your hardscape guy what you want done, but they have all the necessary equipment and don't charge as much as "driveway experts".The crusher run gravel will probably have to be replenished every couple of years.My quotes were $5K minimum for driveway repair also and the hardscape guy charged me $650.00 and that included some dirt and grading work around the house.Hope this helps.

If your Brrrr, you can then replenish the heloc and repeat the process.Happy house hunting!

Getting low on cash will push you to replenish it faster than using a credit line.