If you’re seeking a bridge or a hard money loan, you’d wanna ask about credit, asset requirements, loan to value bands, etc. but each loan is a snowflakes for every scenario always different.

Thanks,James The only reason you could not keep the HELOC open is if there is something in your original loan documents saying the loan would close once it was not your primary home anymore.

For perspective, last April I closed on a new construction loan (build to rent) with a turnkey company there (Rent to Retirement).

I know if I were to send an operating agreement to a lender that reads "LP member will receive return of their capital and 20% annualized return" they would not approve the loan.

I paid $600k and got a local bank to loan 75% for 5-years at 3.85%. 

Purchase the first one cash (to mitigate risk) and the second property with a loan.

Also, compared to a traditional loan (i.e., conventional, FHA, etc.) for a primary residence your rate/points options are going to be higher for an investment.

You will need to make sure you meet all the lender's requirements if you are planning to buy with a loan. 2.

I found an apartment for sale with an assumable loan.

Some condos are non-warrantable meaning you have to use non-government backed loans.