They can properly secure the house following the tenants' departure, winterize it, coordinate utility account transfers, and source vendors to address anything that needs to be done to the house prior to marketing it for another tenant.

Wanted to see what my best options are in this situation:I want to borrow 200-250K as a NRA(non resident alien) with no credit history, to invest in a syndication deal.I have a rental property that’s owned free and clear worth around 750-800K so in case of a cash out refi my LTV would remain low.It would be a short term loan: 2.5 to 3 years at most before I pay it back. 

I'm evaluating both options over a 10 year time period. 

For the analysis of an arbitrage option, as well as other short-term rental opportunities, it entails a deeper review that not only involves understanding various market factors, but also the investor's estrategy and situation.

The main difference is the terms, DSCR terms are 15 and 30 years fixed and 30 and 40-year interest only options, there is more leniency as to Minimum Credit scores, Vacant units, and DSCR coverage.

Lease option is a viable way to *extend* your exit strategy, but the reality is that most lease options don't sell to the option buyer. 

Just a quick follow up to @Christie Gahan's comment: ** Yes, Long term capital gains are taxed at lower rates, but it isn't as simple as the first $500K of gains are taxed at 15% -- rather, the 15% bracket will account for your total income from all sources. 

Is there any option to pull this equity out from all of them together under one heloc?

Appreciate some feedback.I had a tenant, ironically also in Gaithersburg (hope it’s not the same person because she was a pain in the *** lol) but she wanted a new carpet we paid half, she paid her half via us uppping the rent $50 over what it otherwise would have been, so that’s always a creative option, however I wouldn’t want gas at my property if I could avoid it, always a risk of a leak or worse so I’d probably lean towards saying no to this specific request. 

You have multiple very intelligent Pittsburgh-specific folks that can vet you this answer.Instead of trusting that other agent--shady or not-- get multiple sources on it after your analysis.