I think the lender docs  Mortgage/ notes AITD etc give all the power they need to rectify the situation  Of course if that happens the original seller is fubared.

As well, he goes above and beyond for his client helping them build strategies to grow their real estate business and will even get on calls with your Accounting team so that you have alignment across your Power Team. 

but it's a great and powerful way to get started.  

This means that you may not have enough purchasing power to take down a 1-4 unit property VA.

Just bought my first property and I feel like I'm on high alert waiting for the unexpected boogeyman to pop out and ruin the deal.

Trash out, touch up paint, replace carpet in 1 bedroom, replace 1 light fixture, replace burned out light bulbs, lawn service, power wash porches driveway & sidewalks, make ready cleaning, staging and on the market in 2.5 weeks What made you interested in investing in this type of deal?

Quote from @Neil Louis: Don't forget the power of networking! 

Then add 10-20k for additional unexpected budgeting. 

Dan Powers - New Western

A heloc is an open end mortgage or in simple terms its a high risk credit line similar to a credit card that sits in 2nd lien position adding another trade line to your credit and reducing DTI.Just like a credit card if you ever miss a payment on any debts on credit or if your scores drop unexpectedly they bank can close or reduce your line of credit.