I've been searching for a while here on BP but have not found a thread related to my situation:I've been renovating and renting a property for just over 2 years and may be in a position to sell/close in the next 30-60 days.I am trying to cut-off major projects at this time to make a clean break, however we have committed to replacing windows in one of the units (windows are already ordered), with total project lead-time of 45-60 days (windows have been hard to get for the past year).In the event we have a closing date PRIOR to window installation, how should we handle paying the contractor?

However, if you think rates will decline in the next 2-3 years and you're deal flow will be intermittent (i.e. 1-2 deals a year with some months without activity) I would lean more towards the HELOC as you only pay interest on the amount you access/withdraw.

two of my new tenants stopped paying rent.

I don't think procuring a new mortgage would be beneficial unless you need to pay off the cards.

Im willing to pay couple hundred bucks thats paying off my mortgage for a great tenant.

Scenario 1: Pay off all mortgages and my net pre tax cash flow is about $120k/yr.

Now it is a loan so this means you will have to pay it back when the loan is payed off or when you sell the property, but regardless it could my ticket into owning my first rental property.

My main dilemma is on financing my first investment property, as I do not have the funding to pay 20-25% down on a loan for investment.

You'd need to evaluate risk as over leveraging can lead to disaster if your tenants stop paying.

This take time and your demonstrated ability to pay on time, not so much the amount of volume you do.