Best of luck!

It seems not the best way to spend money.

Wishing you all the best with your new venture.

You’ve received some great responses full of valuable information, but I believe you may be missing the BEST market.  

The basement is empty and we are looking to finish the space and turn it into another unit.

I will do my best to answer.

Hi I am looking for HELOC on a primary SFH...speaking with some lenders I've run into two issues....(1) some won't give you credit for rental income if you haven't owned the property for two years (show two years of stable rental income) which can skew your DTI unfavorably (2) one lender said they don't give a HELOC if a borrower is carrying more than 6 mortgages.Would anyone have any leads for a potential lender?

Hey @Tori Rhodes - As a builder myself here in Chicago that is a question I hear often.Before looking into your loan options, I'd look long and hard at the cost of land and construction in your Grand Rapids area. 

Keep calculator.All the best!

I would choose the strategy that best fits your strengths (unfair advantages) and what the market in your area demands.