Any other possitive factors  - stable tenant base  - alarm systems  - regular checks on the property  - no pets  - Lead safe certification  - newer roof, plumbing, electric, etc..Anything to balance off the lossesBe prepared that it may end up in a non-standard (surplus lines) market for a couple of years.If you did not have flood coverage before, see if they will continue the current policy if you get Flood coverage and increase the property coverage deductible. 

It's a very fine balance but crucial to your success!

Interest income is treated the same as rent income for example.One other tip, we make sure to keep the MMA account balances at $250,000 or below to maintain FDIC insurance limits. 

I believe you have to put cash down within a certain time period (5-10 days) and then no inspection and also full balance pretty quick.

Short of that, he transferred the property in violation of the promissory not so, the lender could accelerate the loan and declare the full balance due and payable.If your grandfather and notary didn't sign the quitclaim, you don't have one so, umm...have them sign it and record it.

.- you can use any part of the HELOC  you want to ...make sure the lender you are  using for the new loan will be able to  qualify you with the  HELOC  funds  being used  (  some  lenders will  use the  actual payment on the  outstanding  balance and  other lenders  might use a percentage off the entire HELOC max limit )

I like paying my own TI as I know it is paid on time and I can collect interest on the escrow balance until it is paid out.

It's a balance. 

Most small balance multi family complexes will not yield a 8%+ CAP in today's rate environment..unless they will consider seller financing..with 30% down there should be some options for creative finance solution.

@Silvia BaierYou need find potential partners or investors if you can not fund the down payment, or if your balance sheet is not strong enough.Living in the property would be huge!