Refinance into a debt service loan.

We are only selling completed homes with our own in house financing currently at 3.75%, a huge discount from most bank rates.We are a long time property provider for some of the bigger podcasters: Real Estate Guys Radio, Marco Santorelli (Norada), Kathy Fetke (RWN) Jason Hartman ( Empowerd Investor) GRE (Keith Weinhold), Whitecoat Investor Group and more We also work with American Homes for Rent, Invitation Homes, Crescent, Haven Realty (JP Morgan) to name a few on the institutional side We are partially owned as of 2022 by Sumitomom Forestry, which means we have no bank debt and self fund all our building projects.

@Alec Barnes we use Debt-To-Income Ratio (DTI) instead of income = 3x rent.Reason?

Just a follow up question, were you utilizing debt to invest, I have always been taught since a young age to try and not utilize debt (I come from a family of stock market investors, traditional business owners) where debt is not utilized as frequently which I obviously understand debt can be a very powerful tool and utilized in a great way its just something I want to avoid with my investments to an extent any suggestions for investing without debt or as little as possible. 

Let’s break this down because there’s a lot to unpack here.The real question is, how well is that debt working for you?

If I go the multi-unit route I would put myself in debt for a bit, which is fine for long term investment.

If you are taking on debt for the STR this gets a little more complicated, but not much. 

I understand if you want to sell 1 of the lots, but I'm not sure about your concern about paying off the debt so that you own it free and clear. 

Eliminate debt, establish a budget, and save.

Regarding the HELOC question, consider the interest rate on the debt.