However, you typically need to put down a lot of money upfront.Hard money loanCompared to a traditional mortgage, a hard money loan has a lower down payment—sometimes as low as 10% of the loan amount.

Sure there are people who have done it but like Joe mentioned above is why your rate on HELOC is probably higher than your first mortgage so you'd only do it if your balance is really low and near the end of your term anyway so you're just getting it paid off quicker (like the last 1-3 years of payments left) becaues you want to get ride of the monthly payment and improve your cashflow now versus later.

If it's a low price point, you own it free and clear, and buyer can pay it off in <5 yrs, you might consider CFD. 

Low likelihood of redemption.  

They got in the game when rates were low and it was easy to find cashflow plays. 

You should still buy an owner occupant in your local market always though to use the low money down loans and interest write offs.

Youngstown also has a ton of blight, crime and a very low appreciation potential.

📌Then we filter by submarket:- Low Crime?

For example The investors from CA that I work with like the Reno, NV area because of the close proximity to CA, tech investments, low property taxes, and landlord friendly.

and you can find an almost unlimited variation on risk ( from low to high leverage, both floating and fixed rate debt, from no to high skin in the game, etc).