You will not have the rate long enough for it to interfere with your current and proposed profits.This is where having a good team comes into play for example having a seasoned realtor who knows the market on the purchase/ARV side.

HELOCs are much tricker than a closed end second - they don't typically allow you to close in an LLC and they are full doc qualification, meaning your FICO, employment history, income, DTI etc all come into play.

I currently live and invest in the area and know my market but many of out of state investors get taken advantage of if there don't play an active role Detroit.

U can target any real estate  although its quite robust for what your looking for.. we go for land and development land for the big money plays

If you’re looking to build long term wealth, accumulate assets, take advantage of tax code, and benefit from appreciation, then play the appreciation long game.

Well I have seen this come into play - I had someone who has a note in florida that was a non-owner occupied loan and the lender claims the borrower failed to make payments on this and attempted to record the deed in lieu.

I completely understand your point about pricing adjustments driving faster leases, but my experience has shown that other factors play a significant role in a rental's performance over time.For example, I own three rentals with very different dynamics:1. 

Step up in basis to reduce your heirs' taxes and morePlus the real estate tax "deferral" can end up being permanent if played correctly

You’ll be playing for appreciation and rent growth.

That can play a big part when issuing terms.