We don't offer HELOCs on investment property because of the risk, rates would be well above 10% if not higher. 

The mortgage & re industry does not want to see seller finances and the banks don't want to see their loans that they underwrote transferred.

If you are setting aside funds for capex, taxes, insurance, or other expenses that don't occur monthly, transfer those funds to Savings each month and hold them there until it's time to spend them.

You could also do a simultaneous closing of a fixed first mortgage as a ‘cash out’ refinance and piggyback a new investment property heloc for future use..although the heloc rate will be stronger on the primary.

We have numerous products in New York for 30 year fixed rates on 5+ units, would love to get on a call to see how my team and I can assist you.

However, when an LLC owns the property, it will not be in your personal name, which can result in higher interest rates on financing.This is just food for thought to give you a full 360-degree perspective on the topic.

If you are already up into the higher brackets, then it won't make sense to take a bit out every year since it will be taxed at the same marginal rate...Can't easily negate the tax obligations... 

With that said STR management rates are coming down, as a lot of things are.

Almost every house I look at has rental rates that would be equal to or less than what the monthly mortgage would be.

Yes I didn’t transfer the service right over to my name, and I’m realizing this is one of my biggest down falls.