The issue with HELOCs right now is that the rate is around 9-10% which will seriously eat into the profitability.

Of course, since most HELOCs are adjustable, this will change for better or worse as rates change.

The current interest rate environment has put a damper on a lot of investor's plans to execute a cash out refinance. 

My CPA is saying I have to pro rate those expenses for the number of nights that it was actually rented out, but I can't find anything online that confirms that.

The rates are not that much higher maybe 1-2%.

Obviously, most companies aren't advertising this openly.

I know he does not live in the unit but my hands are tied since his name appears.I responded with “I’ll have to see if thats possible, we have started advertising the unit for July 1, I know we can’t take partial payments.I know you weren’t able to open the unit for today but I just need to get into the unit tomorrow to take some pictures for showings.

With the rates the way they are and in my area multi-family properties are being listed for a high amount like $800k for a duplex, with 2 apartments and 1 bath each. 

It would be rental property to my parents and I would pay a 60% market rental rate and I would also pay the loan.

I didn't pursue because the real estate market was good and rates were at an all time low.