Regional variations play a big role in what companies charge (competition). 

I've played around with the idea of adopting this for some of my less experienced renters. 

Honestly, with the variable (and higher) rates for HELOCs combined with that rates currently are low, I think cash out refi might make sense for us, but I think we need to chart out all scenarios given our current debt + the amount we want to pull out and see how that plays out in a cash out vs. heloc scenario.

Unless you find an unmissable deal (which is hard to come by these days), I would maybe even play it safe in your shoes and wait for maybe 6 months to see where you stand and where the market stands.

We’re analyzing properties right now with the idea of some immediate capital growth (fix/flip)(BRRRR), and long term looking at value add plays on existing structure or ground up on infill lots we can either buy or become land partners with the owners on.My focus is building, design, buy/sell, project management.  

Usually its all about the numbers, however there is other factors that change the play. reach out to me for other insights. id love to chat about it.

UCity could be a good play if you want to rent to college age folk. 

And the likelihood of a turn is less.Turns are costly, and best avoided.Now I said cats, because:[1] Two cats are not two puppies or two Pit Bulls.[2] It will magically become the neighbors cat they just let in to play with their cat (and it may be).I would not even bring it up, and just keep collecting the rent checks and paying down the mortgage.Good Luck!

If not, index funds are a better play IMO.   

I'm unfamiliar with the process however so not sure if these will apply in this scenario, or if s8 will play a factor.