Then, once you pay it down you repeat the process - take another $10K chunk over to the HELOC and pay it down.I think the main thing people don't understand is that the interest on your mortgage is accrued over time, but it's not OWED, it's SCHEDULED.

As far as the Loan Officer is concerned, it gets added back to your income and does not negatively affect DTI. 

the future side of this is still an unknown quantity so its a risk that should be evaluated carefully.There are also several bills currently proposed in WA legislature which are likely to pass in some form or other which will substantially affect your situation - look at SB 5139 - "temporary" rent control   and SB 5160 - extending COVID protections for 2 YEARS past end of declared emergency,   payment plans based on "tenants ability to pay"  and blocking use of eviction and payment history in tenant screening  (!!!!) 

After reselling these properties, I want to be able to pay off the LOC but then still have that LOC available for the next house flip; that is, I prefer a LOC over a loan because I hope to repeat this process many times.Has anyone ever heard of a lender extending a line of credit like this secured by land?

When my BRRRR property converted to an STR and it's been 85% occupied for over a year, mostly due to many repeat guests and mid term stays.

The majority of investors were repeat participants and involved people in multiple states.

I'd say no, it wouldn't be like a normal loan that affects DTI.I'd also say the example money I've seen thrown around to do IB effectively is large, like $50k over-funded.  

This is a budget I can fully absorb and it won't affect my life style.5) Like the name of my Brokerage, Work Hard Realty....

Does anyone have any stats on how the moratorium is affecting your rentals in Washington?

But also, having someone stay overnight repeatedly who is not a tenant feels kind of weird.