1st position HELOC on Rental

[Alan Mills]

I just bought a SFR at auction, my second time buying at auction. After rehab is done, the plan is to use a DSCR to cash it out. I'm interested in thoughts on cashing it out instead with a 1st position HELOC, considering those who talk about paying off loans in less than 10 years by using this method. I'm just not savvy enough to run the numbers and would appreciate hearing both from those who have first hand experience on the topic, and from those who could get the deal done for me… if it makes sense to do it. Thanks.