The problem is your equity position meaning if the home is worth $1.3M and you owe $975K you are sitting at a 75% LTV with only 25% equity.

It's a gateway into the investment you actually want to make.I'd recommend you put yourself in a position to take advantage of a REIT exit as an OPTION, not an OBLIGATION.

I am interested if anyone has a referral for a bank that will lend (first position) a HELOC on a 4 family property in Columbus, Georgia.

People write essays on their position, instead of bullet points on the facts, pros, cons etc.  

: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.

.$50K in earnest is a lot and if the lender drops the ball are you positive they can get the credit denial out in time to refund the earnest?  

(I will research what the likely cost will be and will add in some extra for Tenant A to make it a positive for them).

Here’s the quick-and-dirty lowdown to get you started:1️⃣ Where to Look:LoopNet & Crexi: Good for commercial deals, though the best ones go fast.MLS (Multiple Listing Service): Access through a realtor for hidden gems.Auction Sites: Think Auction.com or HUD homes for distressed properties.Direct Mail Campaigns: Target landlords with older properties (especially those with code violations).2️⃣ Systems for Finding Deals (Step-by-Step):Set Your Criteria: Market, budget, unit count, rehab level.Build a Deal Funnel: Use LoopNet, Crexi, wholesalers, auctions, and brokers.Analyze Quickly: Use a property calculator to see if it cash flows.Direct Outreach: Contact sellers or property managers directly.Get Your Network Tight: Property managers, realtors, contractors—they’ll drop the best leads.3️⃣ What Makes a Good Deal:Cash Flow Positive from Day 1.Below Market Value (usually needs rehab).Upside Potential: Think rent increases, better management, or refinancing options.4️⃣ How to Become the Better/Best:Study the Market Like a Hawk.

At least it's positive now, but it's almost like you have to keep it now to recoup in appreciation if possible.

While there are definitely house hacks that have allowed owners to live for free and show positive cash flow the current interest rates and prices make those less common.