His credit score is fine but his income is showing too low to get the loan, so I though maybe I could use my HELOC to make the purchase and do a Lease to Own.

I'm in the process of purchasing a STR and am intrigued by the 3-2-1 buy down. 1st year of the loan would be 4.5%, 2nd year 5.5%, 3rd year 6.5%, 4th year standard market rate.

Right now, I’m seeing max LTVs closer to 80% on purchases, though before COVID, we sometimes went up to 85%.Also, keep an eye out for lenders who promise amazing terms but demand large commitment fees upfront.

It is also not an option to not renovate as she came with the house when I purchased it and absolutely trashed the place. 

Whenever I have used seller financing as a buyer I always put in the note that the note holder must give me the first right of refusal to purchase my note at the same discount they are selling it at.

Please correct me if I'm wrong.You can require them to have insurance, but you cannot require them to purchase from a specific policy provider.

You'll lose rent while property is vacant, and you'll probably have to do more repairs to attract a new tenant than you would to keep the current tenant.Is all that worth requiring a tenant to use one specific payment platform?

Also, be careful with your lease terms: we specify all tenants, including minors, and state "No Others" specifically.

specifically AZ, NV TX, UT, WA and CA

Looking to get started this spring with the purchase of my first SFH for a LTR situation.