We cant seem to get a conventional loan on just one income. 

Quote from @Jesse Turner: Feel free to DM me about the AirDNA questions :) I'm looking for a community bank or portfolio lender who can offer a vacation home loan with a 10% down payment.

I am 99% confident that the loan was not fully paid off. 

Also is he referring to consumer debt (credit cards, payday loans etc..).

Has anyone closed these new 40 year DSCR cash out loans I see advertised as fixed rate options? 

You will need to refinance with a commercial loan, usually with higher points and more down if you don't have enough equity.The main reason to use a LLC is to protect the asset from lawsuits.

You are not taxed when you are taking out a loan. 

I understand the concept of hard money loans, but I'm currently navigating the process of applying for one myself.

Analyze the possibility of property slicing in Nashville, scrutinize neighboring markets, and explore financing alternatives like FHA loans.

I can think of several reasons - but the bottom line is that since a HELOC is going to have a higher, variable interest rate, and a DSCR or conventional loan is going to have a lower, fixed rate... it wouldn't make any sense to have the BRRRR sit on the HELOC.