I work from home and my hours are very flexible, so I can do all these "busy" activities on my listings. 

Paying the balance down on it also gives me the flexibility to refi to a lower payment, which will help with cash flow if we decide to rent it. 

Another option I’d recommend considering is leveraging business funding, which can give you the flexibility to scale and take on multiple deals at once without depleting your personal savings or credit.For example, you could access $100K to $150K in 0% interest business credit—this doesn’t report to your personal credit, so it keeps your debt-to-income ratio low.

HELOC Basics:A revolving credit line secured by your home’s equityLow interest rates, but often variableDraw period (5-10 years) → Repayment period (10-20 years)✅ Pros: Lower interest than other loans, flexible access to funds, potential tax benefits⚠ Cons: Home is collateral, payments may increase, short repayment termWhen It Makes Sense:The rental property cash flows enough to cover HELOC paymentsYou borrow conservatively (avoid over-leveraging)You have a backup plan in case of market shiftsSafer Alternatives:Save a larger down paymentConsider seller financingPartner with another investorFinal ThoughtsWith your timeline set for November 2025, take time to research markets, build connections, and plan financing wisely.📌 Key Takeaways:Out-of-state investing can work but requires a solid local team.Use online tools like BiggerPockets, Rentometer, and Roofstock for analysis.A HELOC can help, but be mindful of risks and repayment terms.

Key Bank, FLorida flexible lender, HELOCs on second homes and rental properties. 90% LTV on primary.

What are the pros and cons of each, and which offers the least restrictions, flexibility and cost savings for my intended purposes?

Given you and your investor both have experience in different areas, I’d say keep a flexible approach and compare city requirements before putting too much money down.

Some may be more flexible and allow properties in need of repair as long as there's a plan to generate rental income.

If your credit is solid, you might also look into portfolio loans or DSCR loans, which are often more flexible for investors with multiple properties.

You could also explore seller financing or a bridge loan to give you more flexibility.