I'd also like extra cash as reserves to purchase an investment property in the near future.Question: Since I already have a great rate on my loan now, would it make more sense to apply for a HELOC and access the money as needed?

Did some aesthetic work on those, dealt with tenant issues, and have come out the other side.

In a competitive market, finding a good deal might require some extra time, and creativity.

How does it work if the neighbor reimburses me 100% out of pocket and then I submit a claim and get extra reimbursement on top of that? 

P/S - The home has a full unfinished walkout basement I plan on turning into a one bedroom apartment in the future for extra income.

@Charles CarilloI hear what your saying.The the property I’m looking at will have a payment of 1500 for piti and interest only is 1175 that’s an extra 3900 for the year.Am I thinking the wrong way because the banker don’t agree with me either?

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

Or they don't want to go through the extra process that FHA loans require.

Those are extra.  

My tenants are going to be paying down the loan and the extra $14k that I had to pay for the refinance.