The biggest challenge seems to be finding lenders that offer these loan products which is where I’m looking for help from the community with recommended lenders that serve Texas.The Fannie Mae (or Freddie Mac) options are preferred over FHA purely because of the (perhaps perceived) limit on renovation funds that the FHA option provides.

@Luke Tetreault I am new myself and working currently to get to that point, but what I intend to do at your point is to JV on deals or offer PML for high turnover deals (EMD/ Double close).

Just closed on one for a client over the hill in Reno, NV, that was sitting on the open market and they took an aggressive offer. 

There are landlords who are proud to own properties while offering their communities a nice and safe place to live (and enjoying the benefits of having someone else pay for your appreciating asset).

So, here is my buy offer, take it or leave it, end of story. 

Does anyone know of a larger bank that does offer a HELOC or something similar IF it's in 3rd position? 

I've lived in other states throughout the country and each has its pros and cons but NJ does offer a lot and is a great place to live. 

DSCR Loans - Both Purchase and Cash Out Loans- Investors typically use these on the cash out portion of the BRRRR Strategy - Minimum Downpayment, usually 20% but some lenders offer 15% down - Max LTV on Refinances, typically 75%, but some lenders will do 80% - Minimum Title seasoning (since the property was purchased and recorded on county records) is 90 days, although some lenders have no seasoning at all as long as you can show rehab work completed. - 30 year fixed terms - Usually have a Prepayment Penalty from 1-5 years, although you can price out a 0 PPP for a higher rate or fee- Minimum Credit score is 650 usually, although you could do a lower LTV loan at 620. 

I came across a firm (KBKG) that offers a $400 DIY cost study (paying for a membership). 

Party 2 offers higher rent but comes with more risk.