Now Paragraph G.7 reads: Before or at closing, Settlement Agent must receive from Borrower cash or other good funds (as defined by Applicable Law) sufficient to pay all amounts shown on the Settlement Statement as payable by Borrower.

A bank or lender may lean toward a debt coverage ratio or a debt to income ratio, or both, but they may not ignore the issue of a borrower's ability to pay. :)

Remember, 75% of $80k is just $60k (re-borrowability).And that's if your Lender will even go as high as 75%...

The borrower typically believes it's easier to obtain financing because they own multiple properties but in reality more line items in your name equals more underwriting which takes more time.

This could be an opportunity or a huge blunder because when a note holder has issues, the borrower will generally have issues as well.

., when you get 14 years on a water heater you are on borrowed time. 

There is very little you can take in Texas.Plus the LLC wont be able to borrow money etc. 

The benefit I'm seeing with having a HELOC in lieu of a conventional mortgage is the fact I only pay interest on the principle borrowed.  

It's worth noting that you should definitely not overlook how much of a hassle the refinancing out can be but the HML is less likely to look at you as a borrower vs the property as an asset.That said, how far are you from graduating?

Ask the lender to tell you about the buyer's strengths (credit score, job history, debt-to-income ratio, etc.) and also ask if the file has been all the way through underwriting, as sometimes there are potential issues that can be brought up by the underwriter way down the line that can challenge the borrower to get the loan.As far as someone beating you up over inspection reports, that's always a tough one.