Rates will at some point allow you to refinance.  

If you pay cash for something and are able to refinance at a rate that makes sense to pay off your HELOC, that's the only thing I could see making some sense. 

If you go the rehab route, you can refinance when finished with the work into a DSCR loan to get all/most of you initial investment back if you found a good deal.

Every challenge taught me how to refine my processes and maximize both guest satisfaction and profitability.

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.

To adapt, focus on refining your ARV and repair cost estimates, explore off-market deals, and consider creative financing strategies like seller financing or partnerships.

Over time, I’ve accumulated more cash reserves and don’t need as much flexibility, but I’m actually in the middle of a refinance right now using an interest-only mortgage—because the pricing with the lender and the corresponding ARM is more favorable than a comparable principal-and-interest loan.The key with these alternative or "exotic" mortgage types is that you need to be financially savvy and have a solid plan.

@Craig Holland Land is often sold with owner financing, in part because buyers have a hard time financing it, and in part because buyers often only need a short time before they can build on the land and refinance out of the seller loan. 

A HELOC or cash-out refinance is definitely worth exploring if you want to free up capital for more investments, but make sure it fits your goals and comfort level.

If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.