The sources of funds for the purchase transaction are documented (such as bank statements, personal loan documents, or a HELOC on another property).  

Keep the house and rent it out, take out a heloc and purchase a new home.2.

If all are reasonable within the same timeframe (i.e a week or so) this is usually an indication the second was part of the purchase of the property.Obviously, you can ask the seller's but I generally find they do not know either which is why ask them to look at the closing documents so i know for sure.If the second is a non-purchase money loan like an HELOC for instance, then they will likely contend with the deficiency both as a foreclosure and short sale.

Most likely, you'll get the best results with the lowest down payments you can manage.If you're going to try to extract cash out of the company each month to make your HELOC payments, you may find the company is barely better than break even.

I have a decent amount of equity in a 3 family property and was planning on using a HELOC, but just got shut down because my credit score was not suitable enough to achieve a solid LTV (even though it’s 745?) 

I am closing on a HELOC for the condo I purchased in 2016.

I will use a HELOC to pay for a hard money loan and all the fees associated with the loan.

A Heloc is likely a good practical move to get access to the equity.

I am just starting out and I have two options for getting cash out of my primary residence in order two invest - HELOC or mortgage.

(Unless you get a heloc).