I initially got a variable loan.

Many banks securitize their loans (bundle them together) and sell the loans to Fannie Mae or Freddie Mac, while continuing to service the loans, that is collect your payment.

People reinstate the loans and do loan modifications all the time.

Many banks securitize their loans (bundle them together) and sell the loans to Fannie Mae or Freddie Mac, while continuing to service the loans, that is collect your payment.

Unless it’s specified by your loan type or lender, you don’t have to.

I'd target areas near colleges or transit hubs for affordable properties, and I’d look into financing options like FHA loans or creative financing to make the most of my capital.

They wouldn't be able to get a mortgage, but would have to do some kind of SBA loan or other commercial loan for the business with the properties as part of the business.

HELOCs are not available because they are residential loans guaranteed by individuals and what you seek is a type of commercial loan or credit line which are available to seasoned companies with proven financial track record.

Except that you will be required to get a loan for $200k or put another $200k from your pocket in to the deal.

Banks need for them to build recognized credit before doing an FHA type loan.