Unfortunately,  some lenders don't play nicely. 

Key in this is to open the HELOC while it is still your primary residence.Now, as always, talk things over with your lender or prospective lenders and see how the situation will play out for you.  

The cash flow you do receive in the mean time is just a bonus. 

Beautiful area to live play and retire.

Love to hear your experience here if you did end up going down this route, or any others who looked into it.What I will say is that guests greatly appreciate the ability to play their own music, turn lights and temperature on/off, and a variety of other custom features that I have built into the property for their convenience. I’ve also implemented custom signage to allow folks a short list of things that they can ask Alexa to do, which is critically important to clarify understanding and usage.

The first is more of an equity play, the latter more of a cash flow play.

I haven't pulled the trigger on any offers yet, but have been able to make the numbers work by playing with down payment, loan terms, and things like seller credits, were they to be accepted.

Bonus points if they know a good handyman to help when things break down.

At this point I could've moved on to a different buyer to simplify the process, but in order to make this work and NET more money, I decided to close on the house with a hard money loan with the seller, then sold it to the end buyer for $450,000 a few days later.There were more fees this way, but like I mentioned I still netted more money as opposed to assigning the property for less.Here's how the numbers played out:Purchase: -$370,000 Hard Money Loan -$14,501.47 Closing Costs (out of pocket)Sale:$450,000 Sale Price-$12,000 Selling Agent Commission-$9,352.33 Closing Costs-$369,737.24 HML Payoff=$59,649.55 ProfitNotice the buyer did have an agent so I factored her commission in.

@Alex Ramirez and All,I believe COVID play a part in this as it affect the county operations as well.