•Tax Savings Account: To save for quarterly or yearly tax payments.

The bids I won, are down payments on property that has "small" balances under $20K but I do not see how this is legit. 

If it would help to get a more detailed estimate feel free to reach out.Documentation is rather limited, just ID, bank statement, LLC documents to start.Sometimes there are interest-only options at 30 and 40 years, generally the difference in payment fully amortized over I/O is minimal so it may not be worth it.

Quote from @Deborah Wodell: Hey everyone,When it comes to fix-and-flip projects, the down payment and closing costs can add up quickly.

We paid ours off when our balance was $125k, but on a 15 so payments were fairly high at $1732 PI.

Are you aiming to lower your monthly payment, shorten the loan term, or switch from an adjustable rate to a fixed rate?

You then draw your HELOC balance as the down payment for the flip.  

Because if you make good money and always have a source of funds for emergencies then you can use the money immediately if you have enough for a down payment on another property or put it in a high yield savings account or treasuries for a low risk return with good liquidity.

Sue the seller, any payment delinquencies should have been disclosed.

Rocket Mortgage (my current lender) quoted me $100,000 for a 20-year loan at a 9% interest rate, resulting in a monthly payment of around $1,000.