Closing a new loan right now and the underwriter is making me close a HELOC because of the number of loans I have in my name.

I am looking to convert the top unit (a 3 bedroom, 1 bath - close to hospitals) to a fully furnished unit for mid term rentals.

When paying with cash, you have fewer closing costs (no lender fees) and fewer holding costs (no interest payments).

Quote from @Kar Sun: My tenant's lease is coming to a close and I am relieved she will be moving soon.She has been paying on time but has been extremely unpleasant and rude.While the money does not smell my mental sanity is more important than money in this case.She sent me a registered letter stating that she feels "unsafe because we have not done the fixes the way she wanted it".She requests to have her witness for a walkthrough.In my state a walkthrough is required but I am not about to grant it to her to bring any witnesses as that is not in my contract.If she feels unsafe she does not have t be present.I also do not treat a final walkthrough with a tenant as a final sign off.This walkthrough does not include a detailed inspection of the plumbing and the appliances that will be done after she departs.This is simply for the visible cosmetic issues and should take less than 1 hr.  

Some of them are construction contractors that have decent credit but can’t take multiple loans on multiple properties and pay tons of fees and closing costs.

If your LOC is close to that now, I would't touch it.

My view is probably a fallacy as I have not factored in closing costs, home repairs, and the down payment into the equation.

The closing attorney or Title company may be the determiner for an answer and usually at this point in the process as an agent I'd defer to them.As an investor, I think I'd want all this squared away before closing so maybe check with the attorney/closing company.

Find local specialist in your area is huge.2. close to public transportation.

I also am fine closing my purchase in cash, and refinancing shortly thereafter (or even down the road in 6-12 months).So for my questions:1) I've spoken with some mortgage brokers- they all seem to charge a lot of upfronts and are telling me I need to do a DSCR loan.