With the HELOC and then converting it to a term loan you will probably be paying higher interest and/or shorter amortization period on conversion which will mean higher monthly payments.

Honestly, I've given up on finding cashflow anywhere close to the city due to rates and prices, BUT some other opportunities you may want to consider are:Live in flip - mentioned earlier in this thread, always a solid option in any market.Condo conversions - good money to be made from this and since they're a little trickier than a traditional flip there tends to be more inventory available that would allow for a profit.ADUs - come February 2nd, ADUs are allowed BY RIGHT on any SF property in the state, owner occupied or not.

Maybe a garage conversion is permitted maybe not.

Conversely, you will run into people on your list that just seem to be a waste of time, so you’ll want to avoid them.

I had this exact conversation with a borrower just a few hours ago, and it surprised us both.

If you build a relationship with a Banker you can call and have a detailed conversation about rates.

I'm wondering if you might ever consider a brief conversation about your experience in Duluth and what you have seen from the MTR space there? 

I’d love to connect if you are looking for more of a conversation or even just to have each other in our network.

This shifts the conversation from opinion to facts, which is harder to dispute.Keep Emotions Out of ItNegotiations can get tense, but staying calm and professional gives you the upper hand.

@Colton BridgesAre you looking to refinance before or after the fourplex conversion?