Hi, thanks for the replies!
So we actually already have a HELOC on our primary residence that was used to purchase a second rental property, a triplex.
We were not able to get another line on the triplex, a bank gave us a loan using this property, but it's at 6.5% and is not a line- if we pay it back we can't redraw on it. I haven't seen any available lines for rental properties, although maybe we could look around more. My thought was even having access to this cash, were paying way too much in interest and should just pull a mortgage on the third house(was paid for in cash) at a lower rate and pay this higher interest loan back and get out of it.
However, we might be able to get a mortgage AND keep the other loan, we'd be very highly leveraged, but if we find some other deals right away it might work out. I will look around this forum and try and do some calculations using our numbers. I'm new here and don't have much experience calculating our return rate on investment properties!