The company I used to work for was the GC who actually built them and they were so cool but every day people would inquire about these and want to know costs associated and it was always the same question about the affordability. 

Check if their liquidity and net worth is a cash position or mostly retiree funds you can't touch.

That's very cool!

I'm not sure it would work in the way you're thinking in the mainland because lending/liquidity is difficult here in this current market.

Good luck and if you find out anything cool, please share!

Helocs must also be calculated in underwriting based on fully exhausted payment meaning even if you only use a portion during the next purchase they underwriter will hit you with the full payment for risk.Cash out on the other hand is a liquid reserve tax free and it only requires (1) mortgage/lien.

If you have liquid reserves - say $10k +, and IF the property is in good, not average, not fair, but GOOD condition, and the property is not in a “war zone” and not in a declining area, and the property is not in a city where it is or can be subject to rent control, then you might have negotiated the deal most investors strive for but seldom achieve. 

Are you planning to flip and build up more liquidity?

Listing agent was amazing when we were ready to liquidate.

Do  you have $20k liquid or invested on something?