They mentioned they didn’t need any income.

Velocity banking works by taking a huge 'chunk' and putting it down on principal, then paying down the HELOC with every penny of income you get. 

Find out through asking the right questions what will help solve any existing problems, that will give the seller a nice monthly Passive Income Stream, etc. 4.

At best, you will add another income stream to your portfolio.then your looking for someone like me.. 

St Cloud MN Duplex, list/purchase price $259,900market rents $1,610 per unit BUT yes, if one really wanted to sec8 income standards are $1,957 per unit so one could go that direction if wanted be.

Meet with a local banker & schedule a time to talk with a mortgage broker, they'll give you at least a baseline of what kind of down payment options and rates are out there.After that, if you're still wanting to research more creative options, do some looking into seller financing (a very hot topic with good, and bad, advice out there), look into private lenders, and commercial financing options.If you're wanting to live in 1/4 of your quadplex, then conventional residential loans may in fact be your best option as you can purchase that with a fannie/freddy loan with very low down, and use up to 75% of the income from the property toward your own income. 

If your firend wants to stay in the place AND has the funds/income to do so, they need to refinance in their name ASAP (as part of the process), not 5 yeas from now, not if they remarry, not 10years from now.   

The reason not to upgrade, is that you won't get that much more income for the cost of the upgrades.  

Everything I'm finding says 27.5 years due to it being rental income but others say 5 years because it's an RV.

Disclosure: Previous, current and future purchaser of Matt Scott's services.I have personally used Matt Scott and Incite Venture Capital to create my fixed income fund.