I have decided to look into a heloc, I'm a bit newer into realest state investing, I have completed a couple of fix%flips this year, I currently use hard money for the purchase with 10% down and I cover 100% of the rehab, with that said even just doing a couple of homes at a time, I find myself around 200k out of pocket, I think it would be a bit easier on myself and wife if we utilized a heloc vs just cash, my primary should appraise around 1.1m and my mortgage is 640k, I'm looking at pulling about 250k for a heloc, I don't want to refi the home and cash out as I only want to pay interest on funds as I use them ( I know I won't always be using the heloc cash) Any advice or even knowledge for people in a similar situation, and anyone have a referral for a Heloc?

My idea to buy a home is to get an 80% LTV 1st mortgage from a bank, take over that mortgage and give the seller a second mortgage for 50% of the 1st mortgage balance because I need some cash to cover the payments, which the amount of cash would be more than the remaining equity in the home.

Their guarantee to cover the mortgage if they don't rent the property is a red flag, too.

The one to four is a very comprehensive contract that covers everything and even has room for special provisions when something out of the ordinary needs to be spelled out.When doing not so normal purchases like a sub-to, I dont use the TREC, but one that I created from several other contracts.

I got my first one with a 5% down while the tenants were covering almost all of my mortgage.

Seems like a lot of folks prefer SFH, but I bought a Townhouse because it seems like it is easier to maintain (HOA covers external, landscaping, and neighborhood amenities).

A lot of section 8 renters go straight to their case workers with issues like this and it becomes a lot bigger deal than it needs to be.Just do the treatment, cover up the holes, and move on.

Yes, we will be able to live in our own house and not throw away our money in rent, but we will lose all the cash flow because we will need it to cover the primary residence mortgage. 

I decided to keep the house and rent it out, currently I’m out of pocket almost $1300 to cover for mortgage. 

My strategy is to use HELOC to cover down payment and convention loan to cover the rest of the mortgage.