- Lastly I would also consider recommendations for a company who offers HELOCS (NOT cash out refi) for rental properties.

@Tom Stevenson why not HELOC as small as possible loan on your rental to buy your next rental?

Has a $100k Heloc on it that’s being paid down.

I have part of a 401K loan to payback and money borrowed against my HELOC.2) Maintain a yearly savings rate above 55% for 2025.3) Purchase another rental before the end of 2025.

. - Four years of appreciation -100k HELOC for investing.TakeawaysThis house hack worked because I chose a desirable home in a good area with strong appreciation potential.

@Allen L.i hear you on the hassle of conventional loans, my portfolio is not as large as yours but I applied for a HELOC last year and it was a huge pain. 

Highly unlikely you could buy the 1st heloc note since it likely from a large bank....that won’t happen, but you could pursue it if it is a small local lender.  

What's the exit strategy if any, for the investor, given that, with 50%, he has no control and the market there is illiquid, especially when the HELOCs out of North American properties are much more expensive.Properties in Costa Rica are already expensive and I've tried many times to make a potential investment there work and it's never worked with the figures.

Most HELOCs will require that the property is titled to you, not an entity (like an LLC) and require using your income, employment history and DTI to qualify. 3.

Some people pull a HELOC on there current property to do it, but it's like robbing Peter to pay Paul.