Purchasing rental property with No Money Down

[Luke Fernandez]

A local credit union has given me the opportunity to purchase a rental property with potentially no money up front, no down payment and no out of pocket for repairs needed. It would be a personal loan to offer and purchase with. Then when title is in my name it would switch to a HELOC with a variable 6% interest rate. The term will be 5 years or less and I am looking at the total loan being $25k or less. To me on the surface it looks like a good deal. I'm just seeking input from more experienced investors. Thank You in advance.