Confirm the amounts are consistent (there's that word again!).

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

As for your neighbors, they could have exemptions like Homestead, widow, military disability and many others that can reduce the amount of taxes.

So what if the heloc amount is enough to cover 20% down on investment property and cover renovations.

I was disappointed at the small amount of information they were willing to share about the property.  

These loans are for a minimum $100K to $1-1.5M (different loan guidelines depending on the max loan amount).

What is advantageous is someone that is good at underwriting and unbiased (only analyzes the deal based on the underwriting without other emotions).Note i have a fair amount of experience and plan to place a competitive offer tomorrow that the underwriting dictates not placing a competitive offer.  

I explained to the landlord what my business plan was, and paid him a set rent amount each month (though slightly higher than market rate rent).

It's cheaper money but a higher monthly amount because it's over a short span.

Start a specific amount above the going rate for LTR's.