Local banks typically offer lower interest rates but might require a solid track record and detailed financials.

HELOCs are much tricker than a closed end second - they don't typically allow you to close in an LLC and they are full doc qualification, meaning your FICO, employment history, income, DTI etc all come into play.

Will you explain how a typical extension would work, please?

How do you typically handle this?

@Jonathan Greene I'm not sure what you mean by "most will not cash flow as an out-of-country investor" as it might suggest that the cash-flow of a given property has something to do with the nationality or residence of the owner but, in any case, you're absolutely correct that, historically, the net rental yields of LTRs in US cash-flow markets like the Mid-West have been typically higher than in the average European market, although that wouldn't be the case for many other US markets like California or New York.

Thanks  Section 8 is typically going to be on the higher end of market rents for any given area.

Not sure what 3rd party they use, I typically use transunion smartmove. 

typically (as you probably know) you buy something distressed, with either cash or hard money, you fix it up, and then you refinance into long term debt. 

PM fees typically run 8-10% of monthly rent for a duplex plus often a leasing fee of 50-100% of one month's rent when placing new tenants.

The lender is the one who sets this up as they are the ones who typically pay since its them who is to provide this as well as keep track of the loan, but only be a borrower if they use a servicer.