They tend to have a passion for this career and are possibly long term tenants in the area.

Even with the recently improved ADU regulations, for most house hackers it still a long process that could leave them with a unit that is not legal.

Which is more rent reliable, best growing, both for cash flow and long term appreciation?

That is a tricky issue too long to discuss here.

I'm looking at a long term appreciation, and in the interim serve as a second home / STR or even LTR.

There are certain ways of doing things, which are just fine, but they may not maximize the use or performance of something.

After 20 years, problems disappear. it has been too long.

I was thinking I could cash out refinance and short term rent it.

As long as you don't go negative.

Each option has its pros and cons that can impact your investment strategy and overall success.HELOC (Home Equity Line of Credit)Pros:Lower Interest Rates: HELOCs typically offer lower interest rates compared to hard money loans.Flexible Terms: You only pay interest on the amount you draw, providing flexibility in how much you borrow and when.Revolving Credit: As you pay down the principal, the available credit replenishes, allowing you to use it for multiple projects.Longer Repayment Periods: HELOCs often have longer repayment periods, which can make managing payments easier.Cons:Qualification Requirements: HELOCs require good credit and sufficient equity in your primary residence.Secured by Your Home: Your primary residence is collateral, which means a default could risk your home.Variable Interest Rates: HELOCs often have variable rates, which can increase over time.Hard Money LoanPros:Easier Qualification: Hard money lenders focus more on the property’s value and potential rather than your credit score.Speed of Funding: Hard money loans can be approved and funded quickly, which is beneficial in competitive markets.Flexible Use: These loans are designed for real estate investments, making them suitable for purchase and renovation costs.Cons:Higher Interest Rates: Hard money loans typically have higher interest rates and fees compared to HELOCs.Short-Term Loans: They usually come with short repayment terms (often 12-24 months), requiring a quick turnaround on your project.High Fees: Origination fees and other costs can add up, increasing your overall project expenses.For a BRRRR strategy, a HELOC might be the better option if you qualify and have sufficient equity in your primary residence.