I'd like to take a deeper dive into subject to, wraps and other related things to educate myself and see whether some of these might be things I can actually utilize in my real estate journey. 

Did they also do utilities and roads, or was that left for builder? 

Quote from @Fernando Martin-Gullans: Hey y’all, I’m a retail investor with 2 SFH rentals worth a combined ~$650k looking to utilize some of my stored equity to buy more out-of-state properties, but I’m not quite sure how best to proceed given that my interest rates are incredibly low (leaning me away from refinancing) and neither property is owner-occupied (which I believe prevents me from using a HELOC).

Right now the only utility at the garage is power so basically I am starting with a frame and a roof. 

Plus the 20%-30% more in gross revenue just goes towards utilities, furniture, etc.

It's been great - the property is 100% paid off and the house is worth 300-340k generating approx $2300/mo (that's after utilities/management fees etc.)I'm considering selling the property to buy 3 more within the same price range in the same market. 

@Will Almand this sounds like a very useful case for cost segregation especially if you can utilize the depreciation expenses against your income.

Utilize other people's experiences.  

Pay your utilities out of this account, and after the month has ended, you can distribute your cash flow from this account to your reserve account and your personal checking account.

Does this strategy utilizing HELOC really work on saving money and paying off mortgages much quicker?