But, keep in mind, the PPP applies if you refinance as well.

Most LTRs, MTRs and STRs are bought with a mortgage, and even if you BRRRR one, you still have a mortgage, because you'll refinance into one after you rehab. 

A DSCR loan allows for a cash-out refinance based on the property's cash flow, and a quitclaim deed at closing can transfer the property into an LLC, with only the transfer tax to consider.

Every 4-5 years they would use the equity in their existing home to get a HELOC/refinance mortgage to purchase another house.

Since the loan has 5-6 more years at current rates, after which we would refinance, I could see how that might work.

If you are doing just buy & hold of rent ready properties without doing any value-add (rehabs), then consider the old adage that you "marry the property but date the rate" meaning you can refinance.

You don't need to know everything to get started; you need a foundation to build on, and the rest will come through experience and then refining your education.You can build a basic understanding of investing in 3-6 months.

When you go to refinance, no lender is going to offer much better than 65-75% LTV, which means under the best scenario you'll be $27,500 short in repaying your lenders.Are you financially prepared to make up the difference?

They tend to be more flexible than institutional lenders and may lend based on the equity in your property or its ARV, rather than focusing on your income or DTI.If you have any connections with investors or family/friends who are looking for safe investments, you might be able to pitch the project to them, offering them a higher interest rate than they would get in traditional investments.Advantages:More flexible terms.Negotiable interest rates and payback periods.Considerations:You’ll need to clearly outline the project’s profitability and how you will repay the loan, usually through a refinance or sale after rehab.

I’d attempt to refinance to bring down payment.