When you pay all cash there is no 6 month title seasoning wat to get out 80% of the purchase price.You can also come in with a 60% mortgage and a 40% all cash and get a little bit better of a rate and be able to waive escrows if needed.

I recently took out a HELOC on my primary mortgage and have used this to purchase a home for 32,000 with rehab cost of 150,000 and ARV of 220k.

If you do not already own your primary residence, then it will be easier for you to get a loan with low to no money down with a better rate for that then it would be for another property.

And he said I would pay the mortgage directly.

If we were to buy something in Lake Nona, it would obviously not cash flow as we would have her move in and essentially just help a bit with the mortgage, but how is appreciation looking in that market? 

An easy math example is $1,250 of rent needs to support $1,000 of mortgage, property taxes and insurance and HOA (if applicable). 

They want to send me to the commercial loan department where the rates are awful, closing costs are high, and the requirements much more robust.What if I just get a second-home construction to permanent loan, wait 12-16 months for it to be built, spend another 90-120 days furnishing it, and then refinance into a traditional 30 year fixed as an investment property?

Here's a bit more in detail about how rates are calculated for DSCR loans:1.

Seems like the bank owned ones are federal national mortgage association (Fannie Mae). 

We're considering our options for moving forward.Numbers:Purchased for ~ $230,000 (2.5% interest)Remaining balance ~ $220,000Appreciated to ~ $400,000Cash flow is ~ $500 a month after setting aside for all reservesOptions we're considering:1- Cash out refinance- at current market rates, rough estimate is that we could access close to $100,000 in equity, but our cash flow would go to $0 or possibly negative for a period.2- Sell now - if we sell before the end of the summer, we could still qualify for living in the property for 2 out of the last 5 years for the additional tax benefits.