Houses are really a liability, not an asset. 

Meanwhile, you obtain a loan from a private lender that the dealer will introduce you to.

@Chandler Scott what is the asset class, # of units, etc?

Agree with @Thomas S. and @Joe Villeneuve :  Extracting the equity to redeploy into either a new asset class or a diversifying RE income stream would mitigate the risk of that equity evaporating due to market conditions. 

Understand the different investment strategies and asset classes and risk, and then figure out how much you want to allocate to each.

I definitely think it is better to get a HELOC while you are using the property as a primary residence as they are easier to obtain and you get better terms (e.g., lower rates, higher LTV, etc.). 

Low-cost index funds in your desired asset allocation.  4% withdrawal rate.  

I’ve been going back and forth between whether I want to wait until I have the funds to purchase a property for this purpose vs obtaining a lease and subletting that property when I am not in town (with landlord permission of course).

I’m invested in a couple of syndication deals where the occupancy had been around 80% as they work through turning the assets around and working through “bad tenants.”

I have heard that eventually it gets harder to obtain mortgages after 4 or 5 .