The only way I see you doing this if you lock in the contract and than find a buyer who is willing to buy with seller financing through the original owner.

I keep that locked and each time this happens they come get me.

:) Carry bacon is a zip lock bag :) he will be your best friend in 3 seconds.

I have spoken with a loan officer who can lock me into a 30 year fixed at 5.75%.

I would think that the lock side (opposite of the key) mighit pry off.

Now I hope to meet the closing date before the rate lock expires.  

you should get your financing locked down first. you may find it next to impossible to find financing for a foreigner with those kind of down payments. and for sure heed @Ned Carey advice top of the market not the bottom look for a solid 5 to 8% return instead of 10 to 15  those are for those that live there and can stay right on top of them. 

I think our house would currently rent for approx $1500 or so and I am trying to keep my payment in that range in case we move to the new investment property and rent this one out.I have a few things to consider here.HELOC: The HELOC has no fees for us unless we sell the house in 24 months( which is approx $800 if we do), other than that we'd have a 10 yr draw period and would only be paying interest on the amount we use (which could then be locked into a sub-loan with a fixed rate).

Your rate is not “locked in” until after you actually apply for a loan.

With the schlage you physically have to turn the lock to lock it and that's how I prefer it.