The key is to buy a property with a fat cashflow that more than pays off the HELOC.

Gentrification:  the buying and renovation of houses and stores in deteriorated urban neighborhoods by upper- or middle-income families or individuals, thus improving property values but often displacing low-income families and small businesses.A large percentage of the city of New Orleans LA is currently undergoing the above process.

The fats cats are on a free ride...............so be prepared for their greed to cause more havok one day when we least expect it. 

I really got my license for the education more than to become a realtor plus I like the fact that any property I buy in the future for 500-600K  I will get a fat commission check!!!! 

With two properties under your belt, I recommend you making sure your next buy is what they call a "fat pitch" ...in other words, one you can knock out of the park...you're young enough to wait for it.  

Does empty land price undergoes boom and bust like property ?

If I was getting a sure thing and even if that sure thing didn't happen I got fat EM it's a no brainer versus a friend who wants the property but needs a bank to approve with all these conditions.

The refi is assumable but undergoes the same process as a typical loan, so not really seeing any advantage for the buyer.  

Appreciate a Big Fat Thumbs Up "Vote" for the post!

Jacked my interest rate up for a big fat lender credit to cover closing costs.Got $8,000 in lender credit.Paid $120/month more, for six months, because of that higher interest rate.Did a VA IRRRL right at the six month mark (lurkers: this is ONLY for VA loans... call 1-800-Marines and serve for 4 years if you want this).Closing costs on the refi were about $2500.So I got $8,000, but was out [ $120 * 6 + $2500 = $3220 ].