Of course, since most HELOCs are adjustable, this will change for better or worse as rates change.

After a solid 6 month intensive full rehab and pulling all the cash invested out I like to tell my wife 'Hey look at all the free passive income we have!'

There's typically a lag from when demand drops off as it takes time for supply to build up and then pricing finally adjusts.

For the professional managers I recommend they take an honest look at their business and make the adjustments to make it harder to replace them and make everyone want them. 

If you have not then going from never doing this to managing a more management-intensive strategy like co-living may not be a good idea.

There could be a slight rate adjustment to the pricing of the loan on the cash out refi as apposed to a purchase. 

I'd relate it to purchasing auto insurance, where you're given kind of the default average coverage limits, then you just adjust up/down as desired (mostly guessing on what you should choose).

When a buyer gets a mortgage for a property with low money down the bank does an intensive underwriting process to make sure that Buyers qualified to make those payments.

STR's are the most management intensive way to produce cash flow on a property and Tokyo is 9 hours ahead. 

In CA it's closer but more capital intensive.