I noticed the seller started out trying to sell it for $800,000 but he was lowering it pretty aggressively.

Hope this helps! 

I am a buy and hold Investor in this area, for sure!

Over the past few months the landlord has been trying to sell the property but nobody has actually bought it.

We try hard to follow the regulations, including the Dodd Frank Act.

Somewhere in the middle is likely your best bet for a 20 year timeline.I have almost 50 units here myself and that's about what my portfolio is cash flowing at this point combined LTV is around 65% as loans have gotten paid down and values have went up.

Personally if you are looking to grow in real estate going the traditional method/way of getting good properties under agreement with traditional financing will get you to where you want to go faster than trying to find all the needles in a haystack.

Quote from @Jack Matthias: Hi Josh,Curious why the Heloc as this can be done with better terms going the conventional route. 

That moratorium is supposed to be temporary.Mind you, while the US used to have (some of the) lowest interest rates in the world for the last 15 years, this is no longer the case and the US actually has some of the highest interest rates in the world nowadays and that doesn't look to change any time soon.

Or is this normal?