-you don’t have to pay interest on a large fixed sum of money until you find or are ready to pull the trigger on a deal-it allows you lock in some or all of the amount at a fixed rate so your protected against rising interest rates ( given the current market conditions I believe we will see a couple more increases from the Fed this year which will increase borrowing costs for any variable rate products)- See this attached article that does a good job of simplifying it https://www.investopedia.com/mortgage/heloc/fixed-rate-option/

We do that exact same thing, and use TurboTax, too, I think it's a great product for rental properties and really simplifies things.

To simplify my post I'm asking how to develop my buyers list? 

This is very simplified as it doesn't account for paying down your original loan, changes in interest rate, increased rents yada yada but it should serve to get the point across.

jordan, you beat me at my first year.i sold my first only rental a single wide trailer on own land feb 2017 which only paid loan earned $ 7k, profit on depreciating asset, all while living down street in foreclosure i bought earlier, zero down, since it had 2 "homes" on 15 acres  i had it surveyed with new deed and subdivided  the 3 acre back lot camp barns, then went credit union put debt consolidation note on camp since owned outright, no appraisal or inspection needed,  cleared ratios to refinance the bigger nicer one home, used that money cash out to help me buy a 3 unit, financed fix up money, then moved into 3 unit, rented primary home, rented 2 other units, then with 3 rental units income qualified just bought 3 b1 b house to rinse and repeat now in process to refinance my fixed up 3 unit. now i just incorporated after joining bp, thats all in last 15 months. now if i can get enough cash out refi on my 3 unit im praying for good appraisals to buy reo down street to rinse rehab and repeat and im still not sure im doing it right. im still using banks or credit unions. love find investor to simplify process and reduce paperwork.i tried listing my camp on air bnb but no one wants rent off grid river front home. lol.now got hire crew and management. 

Maybe your description is overly simplified but based on the information provided, I don't see how you make money.You are paying today for tomorrow's equity.

@Nicholas Lohr, how we handled this in 'simplified language' in our LLC Operating Agreement is this, using rounded number for simplicity - 1) We bought our rentals based on a price of "100 times monthly rent", meaning a duplex bringing in $1500 a month cost us 150K. 2) That is also the price we agreed to value them at if/when someone wants to sell their share.

But I need you to simplify for me is this is all new to me.Sell the house let's say for 3.5 mil.

Mostly because of your ignorance and lack of understanding of the program.Again let me simplify this for you...

note: this is the paragraph I read in wikipedia in their article about double closing: "To simplify the transaction, the middleman may make one settlement statement directly between the purchaser and seller and take his profit as a line item on the settlement statement.