The norm for the majority of rehab lenders is to provide financing for the purchase + cost of repairs + closing costs (and in some cases, a seperate escrow account is established to pay the monthly mortgage payment---usually I/O)---liquidity and/or cash reserves are required to fund the cost of rehab as most lenders operate on a reimbursement/draw basis (they won't advance funds, they will reimburse you after work has been completed/verified).

We currently have an untapped HELOC against the house so have access to substantial equity w/o selling plus we have additional savings to fund a large down payment and rehab on the next investment property. 

Even at my scale the reserve has never run dry in 20 years and that's with O(100) clients.

Here's the long and short of it:- LTRs w/ a PM = lower cash flow but very hands off- LTRs w/o a PM = slightly higher (think 8-10%) cash flow but more hands on- MTRs w/o a PM = very doable, 1.5 - 2x LTR rent in most markets but more hands on- MTRs w/a PM or co-host = still higher cash flow than LTRs but co-hosting and PM can eat up 25-30% of your profits- STR w/ a PM or co-host = 2x-3x LTR cash flow but same as above, your manager will take 20-30% usually but totally hands off for you- STR w/o a PM or co-host = 2x-3x LTR cash flow goes to you but definitely hands onOpinions will vary on these options but this is a good rule of thumb and starting point to help you compare and contrast.

If O dropped 5%, in 1 trading session people are going to flip-out wondering what the heck is going on.

@Keith O.

O didn’t even know this option because I’m not a cpa but this would have worked also in this situation.1/2 partner in one and 1/3 in another.

It is not a matter of the law  @Stephanie Dobbs, her concern is with her E&O insurance covering her.  

Some people seem to be able to get money out no problem and others have trouble.You may want to check with your broker and the E&O insurance to see if you can sign with Power of Attorney.  

If the property works at 10% or 15% vacancy and real life only sends you 5% (w/o much turnover or bad debt), you'll just walk around with a stupid grin on your face.