Unless you find a buyer with a very specific criteria who is willing to pay above the typical 70% - repairs.

In my mind, the reason for doing this would be to have two engaged platforms versus one dominant one.

I like the idea of using a HELOC for value add projects where you can refi in 12 months to pay back your HELOC.

This leaves you with having to pay tax on the FFE allocation anyway. 

They're less than I pay.

I would apply the cash flow to pay down the debt and hope to have significant passive income (or equity to put into something else) in 10 years.

I could take look at it for you, and help you understand it if it's a standard lease, no need to pay me, although I am not a lawyer.  

Do mind sharing what podcast you heard about?

This is much lower than the costs associated with refinancing.Benefits of Mortgage RecastingLower Monthly Payments: The most immediate benefit is a reduced monthly payment, which can free up cash for other financial goals.Save on Interest: By reducing your principal balance, you’ll pay less interest over the life of the loan, potentially saving thousands of dollars.No Credit Check or Appraisal: Unlike refinancing, recasting doesn’t require a credit check, income verification, or home appraisal, making it a quicker and simpler process.Keep Your Current Interest Rate: If you have a favorable interest rate on your current loan, recasting allows you to maintain it while still lowering your payments.Drawbacks of Mortgage RecastingRequires a Lump Sum: Not everyone has the cash on hand to make a significant lump sum payment, which can make recasting inaccessible for some homeowners.Doesn’t Shorten Loan Term: While your monthly payments are lower, recasting doesn’t reduce the length of your loan.

How much did you pay for the property?