When you refinance and then rent it out, you will have hard expenses such as insurance and possibly some utilities.

What about S8 tenants abusing utilities and causing damages?

I believe it does have access to utilities with the exception of sewer.

A Heloc is best utilized as rehab funding when doing a Value add deal where you buy something, fix it up (using Heloc funds) then refinance and pay it off.

Utilities If you haven’t already set up utilities, then connect your water, gas, electricity, and Wi-Fi.

A good friend of mine (an undocumented foreign national) utilized this approach with 4 plexes starting in 2017. 

I believe this background will be beneficial as I delve deeper into real estate investing.I'm reaching out to see if there's anyone in Connecticut who is actively doing Sub-To deals or utilizing Owner Financing.

Additionally, it can help maximize renovations and improvements.A Cost Segregation study is an IRS approved federal income tax tool that increases near term cash flow by utilizing shorter recovery periods for depreciation to accelerate return on investment.

My goal is to utilize a long-term rental portfolio to reach financial independence. 

If the tenant wants to rent it two months from now, I will hold it for two weeks and then they start paying rent, utilities, mowing the lawn, etc.