I can use my HELOC to complete the deal, but I don’t want to tie up most of my LOC.

My HELOC I will finish this month, had me going back to get info and contact info about my properties, mortgages and leases for rental income.

@Matthew Maggy any reason you couldn't heloc or cash out refi?

Looking at a deal I want to get into, able to put about 8% down on a 2 family rental investment at $160,000 also maybe explore a HELOC on another 2 family I own to help.

Whether that cash comes directly out of my account, from a HELOC or is given to me by a private lender really doesn't matter. 

Since I joined last year, I've formed an LLC and secured a HELOC for some much needed capital.

Let's ignore the feasibility of a HELOC for an investment home and focus on the financials.Would it be more beneficial to set up a HELOC for the 80K debt and pay it off?

I would love to be able to get a multifamily 1st lien HELOC that would allow me to make smaller payments while being able to use the equity but I haven't found a bank that offers one for multifamily properties.

I would love to be able to get a multifamily 1st lien HELOC with a 10 year draw period in order to reduce the mortgage payment, have access to the equity and at least attempt to break even.

i.e if you needed money immediately, you can HELOC against the home when the time came that you needed the money, you wouldn't get taxed, you wouldn't pay commissions, closing costs, transfer taxes and you continue to hold onto your asset.Hope that helps, and congrats!