Hi @Brad Fletcher, I'd recommend a HELOC due to the flexibility alone.

I also added value by being very flexible in my schedule to be able to take on this project.

I also added value by being very flexible in my schedule to be able to take on this project.

I live very frugally allowing me to have a very flexible schedule.

Neil, moving to an IRA May provide additional flexibility, but it’s probably prudent to assess moving vs keeping in plan vs moving to your new employer plan (if you have one). how much are you looking into investing in real estate? 

Can something like this work with a motivated/flexible seller?

This just gives you more flexibility than a straight 15 yr mtg.Once the property is paid off by your tenants, you can either cash out refi or sell to pull out your equity.

@Dave Kapsack as stated above by others, it depends on the level of detail you want AND the flexibility of the PMC.How comfortable are you with the level of detail you get on your bank statements?

Like some of the other posts 20% down eliminates PMI but if you purchase the home as a second home you have more flexibility.

You need to be flexible enough to adapt to the situation to overcome it.