I don't ever stiff the housekeeper and if this was a long term tenant who needed to break early I would do it but probably not in this case, again unless regs require or mom presents a more compelling case. 

As for the "seasoning", some lenders will require the property to be "stabilized" (perhaps 80%-90%+ occupied, depending on the lender) for 3 months, 6 months, etc. before they'll do a cash out refi.

Multi-family properties many times provide a better return per square foot than single family, which would be to your advantage as well.As long as you're mindful of the reinvestment requirements and purchase at least as much as you sold and use all of the proceeds, you shouldn't have any issues with this strategy.

The lender will require that you live in it for 12 months and then you can rent out all of the units after that and start the buying process using the same strategy all over again after that 12 month period.  

It is also important to consider the transactional fees associated with originating the HELOC, whether an appraisal is required etc.

I have focused my research on house hacking due to the lower upfront capital requirements with an FHA loan.

This isn't always the case, but in general, I've found Section 8 homes tend to require more frequent minor repairs.

@Marcus Stokes Starting your first fix-and-flip can be exciting but requires careful planning.

I think a HELOC requires a certain LTV before you can pull any equity and 1 year most likely won't be long enough for any real equity to build.I would say.

His name is Dalton Godson with Nexa Mortgage and we're using a UWM product.If you’ve found a lender willing to work with smaller loan amounts, what were their requirements and rates like?