Anyways I guess we see this differently.I thought it was pretty stand-up of @Joe McCall to come on here and publicly apologize to the original post.

A bonus is if that company also manages and will stand behind that property after the sale to an investor like you.if you have the time, desire, risk tolerance, and knowledge, you can absolutely find and or create deals on your own.  

i set strict qualifications for my rental 3x income credit score of 700. 

Hi Wendy,Coming from a Banker in most cases the Heloc is a Line of credit you only pay on the amount you use and a Heloan is the bank/lender gives you all cash.Lets say you borrow $10K as a heloc and in the first few months you take out $1500.00 your payment is only going to be based off the $1500 and not the $10K because the rest in the line of credit (LOC) not being used - Same as a credit card.

I would never advise my customer to take a 5 YPPP considering we are have been moving into a downward trending rate market since 2024. 3 Year Prepay Max but if you plan on doing renovations or taking cash out on the ARV then a 1-2 YPPP would be Max.I would also advise buying the rate down before you decide to take a 5 YPPP using seller credit, equity or closing funds.

If you are hoping that this property will stand on its own with you living in it and not having to put your active income into it, then it might not be the best option for you right now. 

Once we had the home inspection I was able to have the seller credit us at closing $8k...of which the escrow could not credit the entire amount and so I had the seller write up a personal check for $2000 How did you finance this deal?

Knowing where you stand at all times means you can scale confidently and with precisionI’d love to hear from you!

One of the benefits is that being on the loan can help build his credit, which will be valuable for his future financial goals.

Especially when considering the tax implications, current interest rates, and if you don't have another purchase lined up.Happy to send you an analysis and proforma for your properties as they stand right now, kindly reach out anytime.