Thinking of applying for HELO or Refinancing my personal home to get down payment for Rental Property.

@Jaquon MillerDepends on your long term goals but based on what you wrote, I would strongly consider refinancing

It's not that we have adjustable rates that are killing us but refinancing to lower LTV's in this market also doesn't make sense (like others said, it requires advanced 3-5 yr+ planning)It's what others said.

I've considered different options, such as refinancing this home to make the land a separate transaction or even selling my house to build a duplex, (since I am not sure if I will be able to get financing for the construction project if the land and this current home are on the same loan).

Whether leveraging from the start or using cash with a refinancing strategy, both approaches offer advantages based on your financial goals and risk tolerance.

I will honor my agreement of refinancing or doing a loan assumption as soon as I'm able (I've been trying excessively over the past decade), however if he does force a sale, can I tack on the fact that I've paid all expenses including the mortgage for the past now 13 years to demand he reimburse me half, or is he entitled to half the equity and I'm just screwed out of everything I've put into the house?

It's up to you whether you want to switch the title into the LLC later, but note that this can also be done through refinancing into a business-purpose financing like a DSCR.

We then spent around $30,000 out of pocket on renovations, including repairing the roof, upgrading the electric panel, installing new HVAC, and putting in a new kitchen.After completing the work, we refinanced with LendingOne using a 30-year fixed-rate DSCR product at around 7%, which resulted in a net cash-out of approximately $15,000.A couple of things to note:I'm out of pocket on this property for around $40,000 ($25k down, $30k rehab, minus $15k recaptured).I'm thrilled with this amount since it's far less than our "normal" 25% down strategy would require based on the higher value.The property appraised for $330,000 after the renovations.The key point for me is that this property is now netting around $800/month in cash flow.

Very few mortgages last 30 years before they are paid off or refinanced. 5-7 years is the average life of a mortgage right now, and 10 years isnt unrealistic.

Lenders:Several lenders offer investment property loans in Columbus:- LendingOne: Provides short-term mortgage loans for property purchases, refinancing, and rehabs- Longhorn Investments: Offers hard money loans for Columbus real estate investors- Longleaf Lending: Provides 30-year rental loans for long-term rental property investmentsFor BRRRR and fix-and-flip strategies, consider hard money lenders.