Just wondering if there is any other places beside small credit unions to get a good deal, my state employees credit union offers heloc at 4.5 rate which is good but therer monthly payments for heloc is for every $1000 used its $12 a month, so 50k heloc would be 600 a month, didnt know if this was good or not for monthly payments or us there cheaper one out there.

Perfect - I just did a HELOC with TD as well.

. -- The standard is for 1 month to 1.5 months max in the nashville area --  If this is your personal home talk to your tax advisor but if you've owned it more than 2 years you can sell it without having Long term capital gains, but you would have income tax on it-- so I would think about tax strategies and depreciation/ cost segregations and then getting a heloc on the house and purchasing another and maybe clearing about 100-200$ NOI per bedroom door so maybe 500-1k max profit / month. 

I could possibly pull a HELOC on one of my properties that I have about 200K in equity, but I wasnt sure if that was best option. 

I'm now getting a HELOC so I can use the equity to buy my first short-term rental (STR) in Orlando.

Thanks for the mention @Jonathan Bombaci @Seth W Trudeau, while I haven’t specifically looked at portfolio loan options, for refinancing out of my FHA into a conventional loan for my primary residence I found competitive interest rates, and negotiable loan costs, with Cardinal Financial.I also did considerable research into high LTV HELOCs that would permit up to 90-100% CLTV for owner-occupied 3-4 families.

Additionally, if you have equity in the property, you could always refinance out or set up a HELOC in the meantime (as long as its still a cash flowing property) and utilize those funds to buy something local while keeping your out of state property.

I can tell you that business/commercial bankers understand leveraging assets.I was turned down for a HELOC by a commercial bank and then that bank suggested a collateral loan instead (with the terms mentioned above).

I feel I will have limited financial resources for when Murphy's Law hits (it always does believe me) if I use the HELOC for the down payment + costs & then finance the rest. 

However if they see your property encumbered with a $450k note the situation is completely different.A HELOC on your rental could be one way discourage a lawsuit.