A pro for the HELOC is they can have lower rates than equity loans as the bank is incurring less risk on the LOC because they're normally variable rate compared to a 30 year fixed where you're paying extra for the stability of a fixed rate. 

Also, I'm not super well educated on the different loan options (HELOC, normal equity loan, fixed vs variable rates, etc.,) Each one seems to offer certain benefits that others don't, but then those benefits are subsequently offset by the "downside" of each particular one.

I recommend you do this each year to adjust for utility increases and other variables.

I know there are a good amount of variables that go into every forum thread/post, but would love some feedback or give insight on success stories they had using a HELOC. 

With higher interest rates and higher real estate prices, investors will be forced to take out variable short fixation period loans in order to get a low enough interest rate that will generate the cash flow they require. 

Hi James,There are a lot of variables here.For instance I'd rather have a 4-plex or a 5-unit in the path of progress then a 4-plex or a 5-unit in Resume Speed Iowa.For others that might be the reverse.Are you looking for cash flow or appreciation, what is available to you that you can get a good deal on.

Make a note that the interest rate is a variable  one with  HELOC but you would have access to the money without paying interest on it until you find a deal and you are ready to use it.

Big benefit using a HELOC loan is the interest rate is lower than any conventional/DSCR loan, but also the HELOC is a variable rate, meaning the feds can increase/decrease the rates at any time (projecting to raise at least 4 times this year. 

.- Is this a variable rate or fixed rate?

Lots of variables and nuance underwriting STRs, especially for revenue.