HELOC Basics:A revolving credit line secured by your home’s equityLow interest rates, but often variableDraw period (5-10 years) → Repayment period (10-20 years)✅ Pros: Lower interest than other loans, flexible access to funds, potential tax benefits⚠ Cons: Home is collateral, payments may increase, short repayment termWhen It Makes Sense:The rental property cash flows enough to cover HELOC paymentsYou borrow conservatively (avoid over-leveraging)You have a backup plan in case of market shiftsSafer Alternatives:Save a larger down paymentConsider seller financingPartner with another investorFinal ThoughtsWith your timeline set for November 2025, take time to research markets, build connections, and plan financing wisely.📌 Key Takeaways:Out-of-state investing can work but requires a solid local team.Use online tools like BiggerPockets, Rentometer, and Roofstock for analysis.A HELOC can help, but be mindful of risks and repayment terms.

You'll find much greater difference in $$$$$ by refining your location/rehab/vacancy strategies instead of worrying about "how much it costs to borrow money" in this environment.Nearly all of my clients are more concerned with a simple and headache-free funding process, than the "lowest rate."

Almost no established investors / flippers want to borrow a small amount of money from a brand new investor.  

If I get nervous about the 1st 2 options, I can just not record the new deed and its like I never bought the property at auction and at the point, Merry Christmas to the old owner, because I just paid his taxes.A few things to think about nonetheless.I agree with the advice you received in point #2 since you are not a borrower or mortgagor or guarantor on the mortgage, anything on the foreclosure should not go against you at the credit bureaus.I am not sure about what you are stating in point #3.

Unless the borrower is self employed and takes a lot of expenses to show lower income on their returns then it usually makes sense to pay a couple thousand a year in higher interest (you can pay like 4,000 a year in additional interest for DSCR if you are saving 30+k on your tax bill kind of math lol)

If you don't have the money, then borrow the money from someone who you will pay them for use of their capital. 

If I'm borrowing at 7.5%, is that value destruction (unless appreciation is really good)?

FYI, most of my CFO clients borrow from HMLs that will lend up to 100% of their rehab costs. 

I called them and we spoke about being a borrower and about being loan broker.

Yes there are alternatives for both beige and 30 year loans for no US borrowers.