Kind of a pain and also both less transparent and less efficient than before, but not drastically different. 

Would this still be recommended if I planned on investing in different markets? 

Start looking for a different job that will pay you a salary first. 

We want to buy an arcade machine for our STR that plays a bunch of different games.

A 1031 exchange would allow you to move into better properties in different locations while indefinitely deferring all tax on gain and depreciation recapture.

Hey Jason, You have two different situations here. 

Main goal of All In One heloc or 1st Lien Position Heloc:  Lower your daily average balance.Main Drawback: Rates are substantially higher than 60% of current 1st mortgage balances.If you are mostly living paycheck to paycheck and your money leaves your account as soon as it comes in to pay bills, this is not for you. 

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Remember, cities, submarkets, zip codes, and blocks are each different.

Differ the maintenance on the property to stop the cashflow bleed and hope for appreciation to save the day.