@Rod Merriweather The local bank’s offer looks like a good move, especially since it helps clear your HELOC, gives you cash, and sets you up for a commercial loan to free up your DTI.

You can also go straight to the source - Direct DSCR Lenders - don't necessarily need a mortgage broker to shop for you (especially if you are here and asking the right questions and clearly are sophisticated - unless you are SUper-strapped for time, you don't seem like an investor that needs to pay a broker for help - go straight to the lender)3) Last question- i'm seeing rates on DSCR loans in the 7.2% to 7.5% range, in addition to 1 to 2 points and they likely track 10 yr treasuries (4.26% as of today).

I currently own 4 units in 8 unit complex and i had to pay from my own pocket for cutting down trees because hoa has no money and the other units members dont' want to pitch and could care less also they dont' maintain there budlings which makes the complex look bit down. 

With the upcoming expected rate cuts making real estate "more affordable", I believe this will unlock many buyer's who've been waiting on the sidelines.

You mentioned a creek, so finding a few flat/clear-ish areas with a nice view of the creek could be all you need.  

Thank you for this very clear solution, Derek.  

Be very clear that they must transfer the deposit along with a complete set of tenant records (application, lease, payment ledger, etc.). 

My worry is that while I am clear on the risks (extended timeline to get a tenant in, and expensive buildout) that I am not being nearly conservative enough - do I risk this thing sitting empty for a year, or years, and finally renting well below my implied rate? 

Let the wholesaler spend the money finding the motivated buyer then swoop in and cut them out..

Who cuts the grass?