In this case my plan is to use a HELOC on my primary residence to purchase the property in Puerto Rico.

If you lose your source of primary income, do you have enough cash to make it through the crisis? 

Tyler,Due to the property no longer being a primary residence (both units are rented) the best terms on a cashout refi will be 75% LTV.

When you look them up make sure the owner isn't a LLC and that there primary address is not the same as the property you where looking at.

We currently own the property free & clear.This is what we're looking for:Credit screening for Primary Guarantor partner only (81% ownership stake)Minimum 75% LTV on refinance, we've heard of 80% LTV on a DSCR purchase but haven't been able to find anyone to do that on a Refi0% Origination feeTitle in LLC name

Accountants are very expensive, and may be unnecessary according to your goals.  

Good luck trying to replicate that across multiple markets.If a market is working for you and aligns with your goals, why change it up?

If you can get a better primary residential HELOC rate than you can a hard money bridge loan I would say yes.

Quote from @Lisa Albright: Hi All,Newbie here, just a quick question we are building an addition on our second home, we have a primary residence, and two rental properties.

You can present an offer that aligns with your financial goals, but be prepared to walk away if the seller won’t negotiate to a price that ensures you’re not left in a tough financial situation.