Where are you seeing the 30-year fixed rates at 5.25-6%? 

(To clarify, the metric I'm talking about isn't true cash-on-cash or cap rate, under strict definitions.

Only difference is the $10K is in your bank and the interest starts so you are paying on the full $10K over how ever many years they offer.Lastly, depending on your first mortgage rate it may be best to just do a "Cash out refinance" becuase its over a 30 year mortgage and the rates are lower then both Heloc or Heloans. 

Housing costs continue to be a major contributor to inflation, with shelter prices rising 0.6% in January, keeping pressure on affordability.Despite these inflationary trends, the Federal Reserve is not raising rates and is keeping its benchmark interest rate steady at 4.25% to 4.50%.

It's also helpful to consult a local real estate agent to understand market trends, including demand, vacancy rates, and rental growth patterns.

It’s quite appealing as a long term investment - even at today’s rates.

The PM rate in every area is different, in my experience, some are low percentage and low quality and then there are some that have high percentage and low quality.

There seems to be an endless number of these listed with attractive cap rates.

During this initial research I read several articles which state that coverage in high risk states has significantly declined since 2015 due to policy rate / deductible increases such as what I am outlining above.

Routine maintenance and unforseen maintenance costs; insurance rates (they are increasing all over), property taxes and vacancy rate.