Just a warning, heloc rates are high right now, mine is at 10% but you could find a better deal for a short period realistically. 

Please share companies with competitive rates.

Getting alternate financing (wm2nd, heloc, etc) for equity position may be possible but it will 1) be at market rate 2) may increase the due on sale clause. 

Most work this way Rates: 9% to 13% (Most Deals are 11-12%)Terms: up to 36 Months (Most Deals are 6-12 months)Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 (For loans less than $250,000 $2,500 minimum fee)Max Loan: 65%-70% of After Repair Value(ARV)100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 Weeks)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

Then the test is a bear in Cali, only 12% pass rate...harder than Bar Exam.

Some hard money lenders may offer better leverage but the interest rate and origination fees will be higher.  

This could be an alimony that is court ordered, which in that case my past renters were able to provide documentation with full details regarding start and ending dates, rate of payments (monthly/bi-weekly), and amounts awarded.

It is not as cookie cutter as 1-4 conventional and FHA rates.

@Scott Vaethif your mortgage rate is reasonable i would definitely not use extra cash to pay it down.but give us more info if you want better advice.for example - purchase price, rehab amount, rough new ARV? 

Rents do go up over time (as do costs, but hopefully at a lower rate).