Will a Lender do this?

[Derrick Strope]

Currently negotiating a deal for a pair of duplexes, offer will be 300k for both.   Subtracting the costs of the mortgage, property management, repairs, vacancies, propterty taxes, etc each door will cash flow $200/month.

These properties are owner free and clear by the seller and the plan as of now is to use traditional financing for 50% of this deal (down payment) and the seller will carry a second for the remainder - I will pay all closing costs/fees.

From what I have read, it seems like some banks will do this - some will not, I have already began reaching out to some lenders that I have worked with in the past for their 'blessing' on this type of deal.

Now my question, I would like to have some additional reserves available as the closing costs will likely tap me out at the moment.  Instead of financing 150,000 is it possible to finance say 160,000 so I can have a 10k reserve in the event that I have to deal with any minor repairs/bad tenents, etc in the beginning?  An additional 10k will only cut into my cash flow by approximately 50$/month but I think it would be very important to have some additional cash available when starting out.

Or would I have to close first and then add a HELOC on the remaining equity?