Is any bank offering a HELOC based on the combined equity?

@Rae Chris Ann Arbor is pretty expensive, so difficult to find cashflowing rentals.You may want to look in Ypsilanti - if you want to stay in your area.Otherwise, Metro Detroit offers a LOT of options.Read our copy & paste below for some helpful info:---------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Check to see if you can market to people on active foreclosures and make an offer to buy their properties.  

Did you use standard offer contract for your jurisdiction? 

Yes, it's crucial to get the right structure in place—setting up an LLC in the state where you're operating can offer liability protection.

For instance, mismatched names, employment details, or salary figures should warrant further scrutiny.Urgency to Move In: Applicants who are unusually pushy about quick move-in dates may be attempting to bypass thorough checks.Reluctance to Provide References: Hesitation or refusal to provide contactable references from previous landlords or employers is a cause for concern.Cash Offers for Faster Move-In: Proposals to pay a significant amount up front, especially in cash, to expedite the moving process can sometimes indicate an attempt to avoid scrutiny.Unverifiable Identity: Difficulty in verifying the applicant’s identity through standard identification documents can indicate potential fraud.Tips to Mitigate Rental Application Fraud:Enhance Verification Processes: Implement stringent verification processes for employment, previous rental history, and identity.

I’m looking forward to hearing everyone’s thoughts and advice.Best,Kevin In Pittsburgh at least FHA isn't necessarily a problem, but you can't be super aggressive about you offer price with most sellers unless you're the only one interested/offering. 203k is tough to get accepted, but a typical FHA isn't the worst. 

, it's still highly unlikely that an appraiser would have given value to this bathroom in any case, so we're not losing anything from an appraised value standpoint.Seller should be more than OK with it once you educate them on the fact that of all the offers they are evaluating, yours is the only one willing and able to execute a plan to close on-time, without delay, in spite of the flagrantly illegal and unpermitted bathroom.

3) What amenities are they offering?

I know of one particular loan program in Columbus (I'd need to see if they service Dayton) that offers 0% down for owner-occupants.