Being out of state, I would suggest vetting your "team", meaning find an investor realtor, lender/s (hard $ / long term), property manager, contractors, etc.

I have always imagined getting to the point where I could hold/ run a small community of mountain cabin rentals or a guest house, something along those lines.Thanks,Chad  Yes I meant AirBnb and Mid-term rentals, rent by the room, glamping (although I probably wouldn't go that route), buying commercial RE and running a business (for me that would be a lot of work with a W2 job and buying property locally or leasing out a space is expensive here). 

I have properties in the Buffalo area (a mix of long term and short term) but was looking into Syracuse also, so would be interested to hear the responses.  

Over time, I’d like to expand into short-term rentals, buy-and-hold properties, and flips.I’d love to connect and learn from this amazing community.

Will you use the HELOC as a short-term bridge, or plan to hold it longer?

I use this type of system in a ten unit that I own because the cost to submeter each one was cost prohibitive I usually don’t include other items like wifi/internet unless it’s a furnished/short term rental. 

You’re asking the right questions, and it’s great to see you thinking strategically.My Take on Your SituationSince you already own a rental and want to expand your portfolio, your main decision points are:1.How to pull equity to fund your next deal2.Whether to transfer your current rental into an LLC3.How to position yourself for long-term growthHere’s how I’d approach it:HELOC vs.

I think the short term effect on rents is virtually zero - illegal immigrants usually live multiple numbers to a home, rather than everyone having their own space like Americans - but longer term there may be some softness at the bottom levels of rentals. i would be more concerned about the lower economic job market than I would be about rental housing.

Short and sweet here: There are no true DSCR HELOCs.

Tenants don't get to dictate terms.