Your personal loan has a 5 year balloon period.  

It can be a very good market, but the why behind your choice may help us give you better advice on how to move forward.Before realtors and property managers, you really need to meet other investors so you are making a good move by trying to do that here, but it would be better if you could do it in person.

With the HELOC and then converting it to a term loan you will probably be paying higher interest and/or shorter amortization period on conversion which will mean higher monthly payments.

I've got stories that would be hard to believe on some of my seller financing deals, contract on a napkin, personal check for a notarized deed, hand shake deals, etc., etc. and a LOT of fun.

Personal loan for renovations How did you add value to the deal?

Plus the average person probably finds Akron more obtainable given funds available.

I've personally utilized private notes on three transactions and participated in another handful of negotiations with sellers on behalf of buyers in the past five years. 

I had the initial call with a PadSplit sales person, but I wanted to talk to somebody who's actually doing it to get their perspective and advice.

@Pranita Maldikar Unless the seller is a family member or personal friend, I'm not sure why you'd want to put that much money down on the property.

She'd probably be able to put you on the line as a co-borrower.I've done this personally and it's been great for me and my situation!