Have you asked the agent this question?

When talking about loans, your lender really just cares about your ratios.

If we're financing rental property, we're going to focus on your credit, the amount of $ you're bringing to the table, and the cash flow of the property.

If everything is the same, I would go with the cheaper one, 3/2.

Unless the loan is a much better rate than the HELOC, which it probably won't be, then keep the HELOC and don't pay the origination fee on a second mortgage.

If you want the best class A+ LTRs in the state I'd recommend the upscale neighborhoods of Charlotte (Southpark, Myers Park, Dilworth etc.), or RTP / Raleigh.

.: Quote from @Theresa Harris: For the washing machine, if she didn't ask to be reimbursed, just leave it. 

OP you might research but I believe the Federal OZ program has sunsetted.  

The one I’ve spoken to says 25% down and I’m looking for lower than that.Hi Abby, I have the best lenders in the game and they have special loan programs that let you do way less than the normal 20% down.

The problem I always encounter is, you own the project for life.  6 years later they will call and say, "you remember that doorknob you installed?".