The two banks I have done business with in the past (both local, one a CU) won't touch HELOCs on investment properties considered too risky.While I agree with Tony's advice on starting with community banks, I wouldn't waste my time pounding the pavement. 

I started as an employee shoveling hot asphalt in the AZ summers.

Background in airfield pavements and land development for Federal Government (DoD, etc). 

Crappy asphalt or abestos siding, crooked uneven floors with old hardwoods, baths with 12x12 self adhesive vinyl flooring and claw foot tubs, kitchens with about 5 SF of total countertop space, ok moulding, some walls are paneled over, ceiling height may be low in some areas.

As I see it, agents pound the pavement to get a listing--If I have one, without even having to get a license, why should I give it away.  

For hard surface floors we use an asphalt paper called Aqua bar - its cheap and comes in rolls. 

If you want to be good in this business you'll know your markets by personally pounding the pavement, or by having trusted team members doing it for you. 

So if somebody sues you for something, say they tripped on some uneven pavement, and wins so now you have a $100k judgement against you.

Exterior Asphalt siding over existing dutch lap pine Wood painted trim (peeling) Half-lap roof (10 years life expectancy) Interior Large rooms a bit wavy floor lathe and plaster walls Brown painted bedroom floors Bathrooms large (7x12) but 24" vanity self adhesive floor Kitchen large (15x13) but no counter either side of sink!

While land improvements like landscaping, pavement, fencing, signage, etc. depreciate over 15 years.Enter Bonus DepreciationIf you bought a property anytime after 9/28/17 you are eligible to take 100% or 50% bonus depreciation in the first year of ownership, of any assets that depreciate in less than 20 years (like 5 and 15).You no longer have to wait 27.5 or 39 years!