@James DuganBased on Texas HELOC rules, your HELOC must be tied to your primary residence, so moving out could create compliance issues.

Quote from @Arun Maheshwari: Hi,Does the bank owned foreclosure property allows to put Inspection contingency for big issues like plumbing, eletricity etc.ThanksIf it is bank owned and the foreclosure has taken place - possibly but they would make you responsible to turn on power and water and turn it back off.

I am currently looking for a small local bank or credit union that issues lines of credit collateralized with investment property.

So I require skin in the game (average is 5% to 15%) to offset this.

Is there a funky property tax issue that arises with the collateral that is a local municipality error and can lender quickly analyze the situation, assess and articulate the risk and allow draws to carry on or will they make the life of the borrower miserable?

The final straw was when my property went into abatement after an inspection, due to the property management company's failure to address tenant requests for the exact items that caused the issue.

Have also seen many posts from around the country with investors having the same issues. 

Unfortunately, several issues arose during the renovation: 1.

Our issue is going to litigation.

People might change your settings or misuse the account without meaning to, and fixing those issues could be annoying.