It would be odd to have no closing costs on a HELOC as it is a security interest like any other mortgage or deed of trust... so the instrument will need to be recorded, title insurance may be required, there may be closing fees and transfer or recordation taxes due, etc., depending on where the property is located.For those who think they paid no closing costs either the bank covered those or they in fact paid them because they were included in the first draw.

It is easy to get distracted by college life and kudos for you for taking charge of you financial future :)

@Grant Rothenburger, I don't think it's necessarily a lack of deals, but that everyone mailing to the same Absentee Owners.Investors in overcrowded markets need to look at alternatives like Seniors who have owned their home for 20+ years or Homeowners with low Financial Stability Scores (FSS).There's even a new list where you can mail to the children of the elderly homeowner - since they are the influencers.

I would just love the financial freedom as I feel like my husband works 24/7 just to pay bills and we barely travel.

My very first meeting with lenders, I had mapped various sample financial deals (one for each lender) from the biggerpocket.com calculator, printed them in pdf color and showed the lender that I had an understanding/command of certain business terms (cash on cash, IRR, ...etc). 

Hi @Lavette Pittman ,If memory serves correct, Sprout is an intermediary that connects you to the actual financial institutions that provide the funds, and they get a commission on you attaining those LOC.

Paying bills and recording financials.2.

My financial models show 15% cash on cash return on a $950K investment for 65% of the equity. 

However, if it makes big financial sense to refinance within 6 months, maybe can I even pay some penalty voluntarily to make up for the loss of the original lender?

I have some financial analysis I've done to help get some tax liens in the NW suburbs where I live.