A HELOC with a variable rate can be a good option for short-term financing.

If you are paying interest only, you are not paying down the mortgage. on the $700k you would be, but equity depends on whether its a land contract or traditional note  - depends on structure.3. good template google fannie mae security instruments.Also, my question is if you have not money for a down payment, how can you afford a $700k p&i payment along with $300k I/O payment?

Hey, I have $80K-$90K liquid money.

-Tips for managing the HELOC and property finances effectively.Others have advised that a HELOC only makes sense for short term use, not long term due to it's variable rate and risk of over leveraging.

I plan to use this investment property as a self-managed short term rental (STR) to generate cash flow.

Personally, I like to do the work myself to make the money for myself.

Hi Caleb,From our experience, when flipping properties the most efficient ways to spend your money are the following:Focus on kitchens and bathrooms, as these areas consistently provide the most value for your investment. 

The property manager still runs 8 of her (small town in the midwest) properties. 

Hey Ashley,Accounting/Bookkeeping is not my strong suit so maybe we can help each other out.I run a real estate company in Birmingham AL and I've been in the industry for over a decade. 

Thanks man.And @Denise Evans - the most educated person I've run across regarding tax deeds hands down!