Im looking for a bank to would allow me to convert this $400K to a first lien HELOC with max 80% LTV.

I’m considering taking out a Heloc on my home for my first deal.

HELOC?

The Numbers-Mortgage                                $ 388 monthlyProperty Taxes                      $ 885 yrInsurance                               $ 670 yrProperty Mgmt (9%)             $ 1,080 yrMaintenance & Repairs       $ 600 yrHOA dues                               $ 400 yrCapital Expendatures           $ 720 yrVacancy (7%)                          $ 903 yrRent                                        $ 1075 monthlyTotal Cash Flow                    $ 249 monthlyLiving Expenses/Savings- The Park Model home was purchased with a HELOC @ 6% interest only on a 12yr AM from another investment property.

Im in the process of pulling HELOCS on all my properties now while the current values are high.

Do you have enough equity in your primary residence to obtain a HELOC?

The idea is to either make it a rental property and cashout/heloc to buy an owner occupied second property or refinance into an owner occupied conventional loan and buy a second property as a rental.

HELOC

I’ve successfully flipped a couple houses partnering with my mom, but she is now retired finds herself too risk-adverse to use a HELOC as we did in the past, and truthfully she is quite content with her retirement financial situation.Which leads me to now.

I need to do more research on helocs, but since I don't have a ton of equity in that house, I assume I wouldn't get much out of a heloc, but maybe you can help me understand what that would look like?