Makes your property more accessible (at least on the surface).Bad: Has a cost which is not used most of the time.

One of the PMs I use, does some investing on the side and has access to his own set of contractors/vendors.

A) You'll have access to unlimited calculator use rather than having to invest in some kind of other software or building an excel sheet from scratch which will save you money and timeB) You have access to the marketfinder, and on-market dealfinder and off-market dealfinder.

What "is" financially responsible is easily accessible to find, as is the simple math performed above.

I could still access equity through the HELOC for future expansion and the rent would cover HELOC interest payments while I stabilize future assets. 

Price, Condition, Access. 

Bridge cash out is a great option, especially if you cannot access the property bought at auction prior to closing. 

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

I'm a Real Estate Licensee who works in a very remote, fly-in access-only community.

I can see a scenario where I take on the risk of a high interest rate and less flexible terms for 5 years, so I can access my cash sooner if that option is there.