>>Insert Shameless Plug Here<<I spent hours online, making phone calls, swapping emails and if I just would have started here.....the agents that are in your market that are on BiggerPockets already know that you/we are investors so you've already got that out of the way. 

occasionally I have to swap one out. 

I have to cover that mortgage somehow, property taxes and insurance all in the same swap. 

How about swapping something for part of the equity?  

Are you building a multifamily or swapping out cabinets in a rental?

@Jean-marc Cabrol  from all the different post I have seen and private e mails I have gotten this is pretty much how these notes go... maturity comes and goes... lots of swapping out of beneficial interests which is replacing one investor with another on the same loan.. 

I'd find a way to do this for free by swapping time with friends.

If I swap out a single fixture, we're getting a permit.

What is the best option:1. sign a new lease with all 3, then swap out the name of the person who is leaving2. sign a new lease with just 2 of the 3, then add the name of the new person who is joining3. sign a second lease with the 3rd person (if I find I can charge more than they can)

LTV is approximately 63% $475k loan, value around $750kDecent cash flowCouple of capital projects coming up in the next 2-5 years totaling about $25kHere are my options:1. 30 year fixed at 4.125% - principal & interest payments2. 1st position HELOC tied to prime less 1%, adjusts when prime adjusts, can lock the rate sheet of the day (at any time) to a 5, 7, 10 ARM at 5 year treasury swap (H.15) rates plus 2.25 or 2.625 - minimum interest only payments due during first 10 years (I would continue to pay down principal).