Your mortgage would remain untouched and you would have a HELOC that usually is some rate + prime, so it can fluctuate over time.

For instance, you pay $5k off your $75k debt but your monthly payment still remains $1,200/mo then you are in the same spot. 

They're not as sexy or glamorous as Flipping or BRRRR, but either can help you generate chunks of cash without tying up yours or anyone else's cash for any real amount of time.

While I feel it's important to have a clear goal, we are remaining flexible in deciding whether to go after a fix and flip or BRRR, however ideally we are looking to tackle a fix and flip that can act as a BRRR if things don't work out as intended. 

That’s the end of the deal.But in a recap scenario, instead of selling the property, it is “sold” to a new syndicate where the same sponsor remains.  

@Jeff DimmlerThe numbers look ok to me from quick glance...nothing exciting though as you're going to tie up a lot of capital in the downpayment and only for a 13% return (you're in the midwest and should be able to do better imo).

I'm active duty in the military on JBER and I plan to remain here for the next three years then separate from the military and remain in Anchorage.

Month-to-month agreements are typically better for the landlord since you can usually change the terms whenever you want with proper notice (often with as little as 30 days notice), increase the rent as much and as often as you want (again, often with as little as 30 days notice), and more easily sever ties with tenants who aren’t working out. 

I have many of these remaining in my portfolio, all performing, but have not purchased any new ones for the past couple of years. 

Obviously, income for an IUL (Indexed Universal Life) policy will be tied to the market.