But once its sold, its certainly not making you any more money.You'll get a more favorable rate by doing a reduced leverage refinance, but almost every lender will put some kind of a prepayment penalty on there (usually ranging 3-5 years), so you won't be able to really "pull" from the equity consistently without incurring some financial implications, so it really does depend on what you are looking to do next.

First Heloc rates are double of what mortgage rates with an average of 9.50% up to 15%.

Transferring a listing to a new host is unfortunately not possible.

Or is there another way to structure the deal so that there is minimal delay in the event of a default to have the property transferred back to you (i.e. additional clause in the performance deed or some other contract, etc.)?

Despite higher interest rates for the mortgage (7.625%) and the HELOC (9.5%), we are still positive cash flow.

REITS that have lots of floating rate debt may be at risk of severe defaults in the near future. 

Specifically, do you look at comps on the market or try to find what value would be based on the cap rate? 

I am going to give it another 12 months to see if rates come down, as my first mortgage has a 6.25% rate and my second has an 8.125% rate.

I clicked on the link and their starting interest rate is 11.1%.

I basically wanna know the rental occupancy rate in that area.