I'm unsure if you would be able to combine both loans given that the HELOC is tied to a different property than the one you got traditional financing on.A work around is if you are able to purchase the new property with the HELOC at a significant enough discount, bring the property value up via renovations or additions, then refinance the property, pulling out enough money to repay the HELOC. 

.- They often get sold Class C or D properties while using Class A assumptions - then wonder why they are losing money.Here's some copy & paste info that you hopefully find helpful:-----------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Also, it often helps to connect with a local agent/do extensive due diligence on renovated/new construction properties to see what the property may sell for or appraise for (if doing BRRRR method) as that can impact the price you should pay.

I renovated the primary bathroom, kitchen, appliances and yard.

If you can save money and renovate and the ARV allows you to pull your intial capital out sooner, I say go for it!

If it's a larger debt, I would not offer cash for keys.

My advice is look for a good 2-4 unit investment property that my be a little outdated or need some TLC/renovations. 

Adding the current mortgage and utilities would be roughly $1,350 resulting in a profit of $650/mo.That a pretty good amount of profit/cash flow to apply to your mortgage on a larger house.

As a result, I am hesitant of using my cash to buy and renovate a property if I can't BRRRR my way out the deal.

A buddy of mine up in Omaha once inherited a tenant who refused to let inspectors through the door.. ended up pushing back renovations for a month and racking up costs like you wouldn’t believe.