I consider this more than "financially independent", as my definition of rich allows for less-prudent spending patterns, while bare-minimum FI requires at least some budgeting.

If that's true that interest is going to change when you re-fi.

I have traveled through many areas on the globe while in the Marine Corps, Semper Fi:) Any who, after the service I jumped into Real Estate, first as a Realtor then as a full time Mortgage Loan Officer...

You can use the HELOC for an investment property purchase, then do a cash-out re-fi on the property with a traditional mortgage.

The overall goal is to build an empire and gain FI just from the cash flow off of our investments. 

Does anyone know of any banks (either portfolio lenders or conventional mortgages) that will allow for a re-fi less than 12 months (or even less than 6 months) in Colorado? 

well hello Brianna F., I too am military, just purchased a home here in SOCAL using the VA loan, now looking to rent that property out and refinance into a conventional and or FHA down the road, BP has been a tremendous help bridging the learning curve with REI. so feel free to reach out.

After that wait for at least 16 day just incase they decide to get back together and make up and pay you rent, pick up their stuff(fi anything was left), and to cover yourself.

My goal is to build a portfolio of passive income to reach FI!

They do up to 75% re-fi and have multiple terms - 30 year, 7/1,etc and don't care if the home is a currently a lease-option ( or any agreement - as long as you have title).