Hi,I purchased my first rental property in cash in January this year (In Texas), which I then placed in a LLC.  I now have a renter with a years lease. I'd like to pull the equity out of the property to finance a 2nd ...

Usually built to modern electric and plumbing code and super easy to repair or fix issues because you have both attic and basement access most of the time.

I'm sure they are all in the WEBINAR ARCHIVE but you need a PRO or PREMIUM membership to access that.

@Kevin Kohler was looking mainly for typical residential HeLoC access with the property securing it.

@Jason BartonI am a mortgage broker in Texas and have access to several lenders whom do DSCR loans.In a nutshell:Income, Employment, and DTI aren't a factor.It's all about the property, your cash down, and credit worthiness.The DSCR calculation is generally NOI/PITIA = DSCRSome lenders will go as low as .75% DSCR but will want more money down. 1.00% is the standard, some drop rate is over 1.25%.

Any thoughts on the area in terms of safety, demographics, CBD access etc.

Those tenants require chasing constantly for rent, generate higher maintenance calls, need more screening etc etc.

@Dave E.Thanks for the advice, that definitely makes sense.Aside from hard money or asking friends and family, are there other avenues to accessing capital for down payments you like?

Some areas of Oklahoma and Texas have such unstable soil that foundations and driveways and sidewalks are a constant source of frustration. 

Whether you're retiring at 65 or 85, having access to tax free refinance proceeds and decreasing your cost of capital by 200 basis points is a no-brainer.