So the follow up question is, does it make sense to keep a property for that long and not dig into its equity for 21 years?

*Newbie Investor I’m currently looking to buy a long term rental with minimal renovations in North Carolina and chose Fayetteville as my main area of interest.

It explains that tenants under lease will adjust at the end of the lease term.

This was in 2019 when I was funded so the terms were much more favorable than they are now.

How long have you been a realtor?

Sub 2 was not in my vocabulary 3 years ago when I started in Real Estate, now Sub 2 or buying subject to its existing financing is a common term I use daily!

Total rents at 100% occupancy across the three are $2900 monthly.I'm thinking because the financing terms are soooo attractive that it may be worth the higher risk that comes with the high PITI?

It's a long game. 

HELOC are great for short term cash needs, but not good for long term cash needs. 

Its going to be more about those factors than any local market factors for DSCR Lenders.The lender should have gone over the prepayment provisions more closely before closing, but assuming you likely have whats called a "stepdown" prepayment penalty shorthand called "5/4/3/2/1" - this means that you can refinance and prepay, however if done in the first year of term you will have to pay a 5% fee, second year 4%, third year 3% etc.