It just goes to show that with a bit of flexibility and creativity, even the most challenging situations can turn into wins! 

He is also flexible and open for suggestions.

I find there is more profit to be made and more flexibility if you use your own funds. 

If you’re short on down payments, here are a few strategies to consider:Leverage Equity: If you own any properties with equity, consider tapping into that through a cash-out refinance or HELOC to fund your down payments.Seek Joint Ventures: Partner with other investors who can provide the down payment while you manage the property or contribute in other ways.Explore Creative Financing: Look into options like seller financing or lease options, which might require less upfront capital and can be structured to fit your needs.Consider Private/Hard Money Lenders: These lenders can offer flexible terms and quicker approval compared to traditional banks.

I understand wanting to be local but I’d encourage you to be flexible on that so your options aren’t limited.hope I was able to add some value.

Additionally, a longer amortization period provides more flexibility.

Faster approval, more flexible terms, and less stringent qualification criteria.Tip: Establish a solid relationship with private lenders and clearly outline your investment plan to gain their trust and secure favorable terms.

I think having the flexibility to choose what weekends my family or friends wants to come into town out weights the consideration of putting a tenant in there full time.I have researched a bunch of things that come into consideration before starting this and I would love thoughts!

The numbers look great as-is, but I would feel much better knowing I might have more flexibility long term. 

Getting a HELOC without a full appraisal can be tricky, but there are a few ways it might be possible, especially if you’ve added significant value to your property.Showing Recent Home Improvements : Providing documentation of recent home improvements and their costs might convince a lender to waive the full appraisal.High Equity : If you have a significant amount of equity in your home, lenders might be more flexible with appraisal requirements.Streamlined HELOC Programs : Some lenders offer streamlined or fast-track HELOC programs that don't require a full appraisal.