My “reasoning” is based on two points1- the current system of property records filing in a million different jurisdictions with expensive title searches necessary for almost every title transfer and mistakes still being made can be made much less expensive, much faster, and much more reliable through migration to some sort of “blockchain” National registry.2- Numerous investments have been divided into, and offered as tranches of the whole.  

Plus the added requirements around getting drawings and general contractor for even adding a tiny closet.

@Kash Tacke legally, you would need architect drawings to get approval from Detroit Zoning Board.

I am actually doing a flip right now and hard money lender isn't the easiest to give us a loan for the rehab (draws verse pulling all at once, which is normal).

@Jason Dubon I take the cost of all appliances and divide it by 5 (avg lifetime of appliances these days) to estimate annual cost of appliance replacements.

The biggest difference here is that you'll pay P+I on the entire loan amount immediately with a cash out, but you'll only pay interest on what you draw on the HELOC during your draw period.

Ray Dalio came out with some interest comments on the big divide in the US..  

Another draw back is short term your expenses will be higher because you are paying the mortgage plus paying back the loan but that is a short term draw back until the loan is paid back.How it works: I have experience with my wife's company and mine, each is a little different. 

Win, Lose or Draw he's still in the records from your filing;-)Housing Court Judge, speaks to us at MassRealEstate dot net annually.

You also don't need to do a traditional long term strategy, is there a draw the  area that playing host to a traveling nurse or other professional/student would be interested?