They're good to have open access to capital/cash/equity to a property ahead of time so you can execute a deal or purchase when the time comes on a split second decision (versus having to apply to a loan at that time which might take 20-45 days to get approved/closed/etc plus by that time you dont know what your future income/credit/assets will be like in order to qualify anyway).The second use is sleep at night factor and having a reserve of capital in the event an emergency event occurs in life.For these two reasons is why I use lines of credit.

Best of luck in your future investments! 

Could I reach out if I have any questions in the future?

Finding the right price does not associate with market stability or future performance assumptions.

@Jessica ZolotorofeHello From the Future ;)Ive spoken to a couple title companies, and transactional lenders and I have not heard about double closings/backtoback closings being illegal.

The future is not known, and yes, it very well could end badly, it's a real potential. 

You will need this money in the future. 

Initially we thought we would flip, but now we're thinking of holding and using the equity for future investments.

Finally, ask about pre-payment penalties and do not ignore them as rates might fall in the future.

Just think of how this will affect DTI and ability to buy in the future.