I'd rather keep the sub-3% rate for now and finance other properties conventionally for the short term.

I have many clients buying the older homes in North Phoenix near the north 101 as they are 20-30 years old, in need of updates, but also are poised for the long term growth from TSMC and other business/economic activity in the area. 

The high HOA fee is already a factor, so ensure you’re comfortable with the overall carrying costs.Focus on the Land Value: Since the lot has development potential, you’re looking at this as a long-term investment.

Lease Terms: Determine a monthly rent payment that covers the HELOC repayment (interest and principal) while providing some positive cash flow for you.                    

North Linden, South of Main, Vassor Village, Woodland Park, MT Vernon, Milo-Grogan, Franklinton, Merrion Village, Hungarian Village, Southern Orchards, Driving Park, Olde Towne East, Franklin Park, King Lincoln, Old Oaks, Livingston Park are all but not limited to some areas in Columbus, Ohio I think will gentrify quickly and make for great long term buy and holds.

Exit StrategyResale Planning: Research market trends for optimal selling timing.Long-Term Investment: Consider retaining the property as a rental post-graduation.Marketability: Choose a property with appeal to future students or young professionals.By following these steps, you can make a well-informed decision and ensure a successful investment that benefits both you and your student during their college years and beyond.Peter Derry PHD Properties 

In that scenario - I would worry that our long term renters would not like that strangers are walking up their steps and entering the doorway 5ft from their front door every weekend. 

If you were renting to an only a couple as a long term tenant and they beat each other up (domestic violence) your liability is minimal.  

The term Certified Broker is intentionally deceptive in my view. 

I would rent 3 or 4 on long-term to get someone in and paying right away.