I've seen a variety of payments from HELOC's.Some lenders like Chase will assess 1% of your balance a month as an overlay even if your HELOC is interest only so you may want to take this into account when picking your lending options.I also plan this to ensure my DTI is always in check and I can continue buying or obtaining financing.

Don't spend dollars to chase pennies in this business.

My time and effort babysitting knucklehead D class tenants and chasing them around town for rent is worth more than that ... ... you couldn't get me out of bed in the morning for $200/mo/unit and no appreciation LOL. 

I had a business in an LLC, got an SBA loan of $200K for the LLC through Chase, with my personal guaranty.

The reason why I'm leaning towards going with Chase bank for a home loan is because they allow for me to put 15% down instead of the opposed 20% for a conventional loan and the house I'm under contract with qualifies for a $5000 grant as a first time home buyer (meaning that Chase Bank will cover $5000 of all fees) Which is a HUGE BONUS.

The reason why I'm leaning towards going with Chase bank for a home loan is because they allow for me to put 15% down instead of the opposed 20% for a conventional loan and the house I'm under contract with qualifies for a $5000 grant as a first time home buyer (meaning that Chase Bank will cover $5000 of all fees) Which is a HUGE BONUS.

Stop chasing and find you a new tenant.

Just some updates (if anybody cares lol)I used the lump sum 30K I had and went for loan recasting (my lender is Chase, and they allow easy peasy, no fee, simple 3 pages document), that brought my monthly payment down by 150/month.

For example if you pay 105k for a duplex assessed at 90k with a level of assessment you are still within the 10%..Assessors generally will not chase sales.

I ended up chasing down the rental assistance avenue which ended up paying at month 10.