Network with some lenders that work with investors and determine how much you can qualify for.

Many PadSplit residents rely on public transportation, so being close to bus stops, transits, and other forms of public transport is vital when identifying deals, at least here in Atlanta. 

Some lenders will adjust the depreciation back out of your income to show higher income to qualify.

looking in Kauai, Maui etc areas with str restrictions,  leaning towards ltr. but with high rent and low income for local residents,  is it easy to rent ltr/find good tanents and have cash flow or atleast break even ? 

.- We have no outstanding mortgage debt.Recently, we discussed financing options with a banker at PNC and learned that we might qualify for a HELOC up to $480k, albeit with a relatively high minimum interest rate of 9.31%.

Also it is usually more expensive than traditional financing so if you would qualify for traditional financing you might want to explore that option first.

It doesn't make sense how the status of my 2nd home would change because I don't own my primary residence.

I know, for a non-EU resident, I can take a Spanish Mortgage with local banks, but I was wondering if can organize and pre-approve it with Spanish bank that have branches here in the US.

Because DSTS qualify as real estate for 1031 it is almost a surety that once someone owns a DST they will always 1031 when that real estate is sold - either into another DST or back into regular real estate. 

Please let me know as I just want to try and qualify them.