Zero Out of Pocket Financing

[Adam Figurski]

I’m looking to purchase my first income property and I’m looking for some feedback on my plan to purchase with zero out of pocket. 

Basic overview would be, hard money or personal loan to purchase, then 70% LTV delayed financing, then HELOC to pay off the last 30% on initial loan.

 Purchase price is 50k. With 20% down on 30 year mortgage this property would net cash flow $400/month. 

Assuming my plan will work I estimate my cash flow would be about $285/month because of the higher rates and shorter term on the HELOC. I'm ok with trading zero out of pocket for less cash flow.

Not sure if this plan is even feasible. If it is I’m sure I am missing some details somewhere. Any feedback would be great. Thanks