I've got a HELOC that lets me borrow up to $63,000 at a Variable interest rate of Prime - 0.25%.

You change the plane or introduce another variable, and you have another set of multifaceted answers, options and restrictions.

There are so many different variables that go into flipping a property I could be here all day honestly.

There are many variables, and I would want to make sure they had demonstrated the ability to manage remote and produce a return.This may vary for friends and family.

Today, with the big data we have, it is actually quite apparent that the data that is available, is inadequate to derive adjustments in any manner even remotely reliable - real estate data is simply subject to too many variables to pin exact amounts down.

Tessa Malmgren Since HELOCs are variable rate (prime rate + X%), they are best used in shorter term deals.Either way, go lock up that HELOC!

The variable interest rate on the loan is currently 4.5%.So, if I were to draw 50,000 from the HELOC to pay for this rental property, my minimum payment for the first month would be $750, of which about $188 would be interest, and the remaining $562 would go towards the principal.

STR has WAY more variables than LTR as rental rates and occupancy rates change from week to week.

Joshua Gregory You will have to run the numbers (based on your credit score) for the cash out refi to compare.HELOCs are variable rate (prime rate + X%).

@Nick BrubakerRefi: Advantage-lower longterm fixed rate, disadvantage you begin paying the interest immediately.Heloc: Advantage-you don’t pay any interest until you use it and you can often can choose an interest only payment option, you can use it over and over if you pay it down/off like a credit card, disadvantage is a higher variable interest rate.