Hi Angel,A Home Equity Line of Credit (HELOC) is a specific type of credit line that uses your home as collateral.

@Cassandra AlessioHard money loan could work to change it and then refinance back out of itWhat is purchase price and what is amount your looking to borrow ?

Each is for a specific use and would complement each other.

Could someone explain if investing in the Investor-Purchaser Programs such as the SCDC Investor-Purchaser Program is a good idea?

if this was a rental property the gain on the property is whatever you sold it for minus your purchase price (broadly speaking)… there’re are various expenses you count against both your basis (purchase price)  and against your gain from the sale.  

We have the means to rent our current hawaii home and purchase our next home in the mainland.

This is believed to help put liquidity into the home buying process by taking these loans off the books of banks and mtg companies.Now Freddie has started to purchase 2nd mortgages.

What cap rate do you consider strong as a buyer right now when purchasing one of these locations?

Purchase price: $325,900 Cash invested: $16,295 Single Family new build townhome. 3 bed, 2.5 bath, 1795 Square Feet

Plan to purchase in northern Virginia or Maryland.