Apartment deal, what's valid for a down payment?

[Steve French]

Hiya BP peeps.  

I've got some HELOC money, though we're planning on moving across the country within the next two years, at which point the HELOC should be paid back (housing crash in Seattle nonwithstanding).

Are those funds considered valid from a downpayment perspective for a commercial apartment deal?

I'm wondering if it is worth it to spend time on that now or wait until we have a few more SFH transactions (and cash) under our belt. If it's not a valid source of funds for a commercial deal then I know what else I should be focusing on.

[Andrew Kerr]

@Steve French - it really depends. I have had banks verify where every dime was coming from and if it created any other debt servicing. If it did, they would just look at my global cash flow and make sure it could be supported.

Then I have had other local banks just look at my personal financial statement, and didn't bother to verify where the cash came from as long as it didn't put a lien against the property. I just had to show up at closing with the cash. They really just focused on the property and making sure it meet their criteria.