-Be Flexible and willing to change / adapt your plan.

The $100k sum is flexible, but I think I only want to dip my toe in, so whatever I take out would be a downpayment just for my main property, hence the $100k ballpark.

Meanwhile, next month he starts neglecting rent payments all over again.I always found that GOOD tenants love the flexibility that the MTM lease affords them if their personal or work situations changes.

So if your plan is to live there while renovating the property a Hard Money Lender will likely not work.You will probably need to find a Private lender as they would likely be flexible in allowing you the ability to live in the property while you renovate it.

You also are provided lots of flexibility--for instance, you can go after medium term renters for 2-3 months, short term rentals, etc...   

I’m also being offered a 3.5 80 LTV cash out refi Isee the merits for both, HELOC is flexible and I can be cash flowing more right away and I can use it when I need it, but I’m scared of the adjustable ratesThe cash out refi seems appealing because I can lock In the 3.5 rate (considered my primary) and I can cash flow close to 1k after expenses, but I don’t have any deals lined up.Not sure if I’m going to use that lump sum to buy another Brrrr SFH or use it as a down payment for a bigger multi family Goals are to net 100k a month in passive income and to grow my portfolio relatively fast.

(Potentially better income, better control, and gives you the flexibility over your home, and it fun!)

I'm especially taken with the idea of house hacking via STRs, as I'm almost 30 and the flexibility of choosing when not to have roommates or housemates is nice. 

I'm with Central Metro Realty and have been very happy with the flat fee structure and flexibility.

The NON-QM lender may have the ability to get you a loan with a little more flexibility on your DTI.