LOC for rental purchase
I'm considering getting a line of credit, on a rental property, to use for the purchase of future rentals. I would plan on using the cash flow, from all rentals, to pay off the line in 2-5 years, then repeat. I've found a lender that will setup the LOC. What should I be looking for as far as terms of the line? Has anyone used this strategy? If so, pros/cons? I feel I will be quicker at making offers, and realizing I will pay higher interest rates, but save on closing costs. Thanks