The longer term loans would have lowered your monthly payments and decreased the costs.As for rent, each year you need to look at rents in the area to decide how much you will be increasing the rent by. 

I'm not sure I can copy and paste my Excel spreadsheet, so i will approximate the numbers here.Strategy:Take a Home Equity Loan (second) on our primary @ 5%.Pay off existing HELOC (variable, at 7.5% now), use remainder ($120k) to buy the land (plus 30k of our own cash).

@Shwetha Pindikuri,Assuming an FHA loan with a second mortgage can be tricky, but it’s definitely doable with the right lender.

It’s a bonus if the bank offering the HELOC also handles BRRR loans — they’ll be more flexible and accommodating when it’s time to pay off the HELOC with a new loan!

I am sure the interest in that hard money isn't great.All DSCR loans I have seen require at least 12 months.

This property is in the next state over from me (only about 90 min away) and is a 5 unit, therefore I'm looking at a commercial loan. 

@Denise Brown-Puryear I am biased as I co-own BIFI Loan Servicing.

When your LLC takes a loan, expect as members to personally guarantee the debt.

For active investments I advocate considering how you can diversify WITHOUT ceding your competitive advantage nor the superior profitability of the niche your in.As an example my business is running an investment fund and syndication high interest commercial mortgage loans secured by income producing real estate. 

Gradually scale by researching high-growth markets, partnering with experienced investors, and exploring financing options like SBA loans.