In order for money to go to work it needs to be invested properly.

Probably 8%+ mortgage interest at 40% down to make a safe assumption.

I mean myself and any bank would need more details, but if you utilize that large sum as a downpayment and have a small mortgage, wouldn't you easily qualify for the debt to income?

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

Hey Frank, not sure who you're replying to but I want to emphasize based on what you said pretty much EVERY mortgage broker should have 10-20 options of lenders who can do this.

Using a heloc as 1st mortgage really only has a major benefit if you have idol cash sitting around from your paychecks. 

So you might as well be a head of the game do the cash out refinance buy the next 1-2 properties and simply refinance the original mortgage as a "rate and term" which carries a lower rate.

All LP equity gone.Even before interest rates took a huge jump: property bought with 75% LTV first mortgage, pref equity up to 90% LTV, and funded last with LP equity.  

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

For active investments I advocate considering how you can diversify WITHOUT ceding your competitive advantage nor the superior profitability of the niche your in.As an example my business is running an investment fund and syndication high interest commercial mortgage loans secured by income producing real estate.