I'm interested in everyone's opinions on using a HELOC to purchase turn-key rentals for the short term and covering principal paydown across all new mortgages / loans ( HELOC ) through excess income. 

Some of mine are only $50 so its only $1000 for the year but that $1,000 does mean something and sometimes it comes down to principal.

Not paying a friend's principal + 20% interest + points is what RAD is doing.

Salavatore,I have been doing NNN about 21 years as a principal broker and an investor.

This is another deal where Capella earned over $100K in origination fees, the loan quickly went bad, and now Capella principal Corrine Cordon looks to further enrich herself by buying out investor interests at a discount (offering 75 cents on the investor dollar).

Same principal for rents, mortgage buy downs, etc.6.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

Ken McElroy, on the other hand, is listed as CEO and Principal of MC Companies, which I have heard good things about.  

Your current home would rent for $1800 and PITI (principal, interest, taxes, and insurance) is $1250.

If the amount paid to purchase an existing note is below the principal balance or more correctly, the unpaid balance, the investor will benefit from an early payoff to the tune of the discount.