A conventional route would be about $3800 a month vs a $2400 Month.Also would it be possible to do seller financing until the loan assumption happens, or if the assumption falls through, how could i refinance the home to be the conventional that I am already approved for at the number I bought it down. 560k off market when home is probably 580-600 Comps but seller owes 380k. so Thank you all for your time and help.

We're advising clients to consider selecting a lower prepayment penalty to refinance if rates decline in the next few years.

I would get the highest APY with the lowest up front fees possible and then refinance in a year or two. 

Are there any options for this where I can get 100% (or even close to it) in a refinance?  

Hi Jayson, In some cases it can be a great decision.Take a look at the cost of capital the HELOC or refinance is going to give you compared to what you are looking at now.Also look at the income generated/write offs/appreciation that a rental property is going to give you.If it is going to yield you positive results, I say go for it!

So if I were in your shoes I would want to be really confident in the exit strategy. 1) confirm rent estimates 2) confirm ARV and the demand in that area to buy a house like that in the price range 3) are there banks willing to refinance at the LTV you want with the seasoning period you have. 40k for a house of that size that needs that work would be the cost of materials alone where we live in WI, so verify your estimates.

Its a great time for investors to tap into the equity they've accumulated over the past few years on a cash out refinance with improved terms. 

His & my verbal conditions were he move in and we'd take care of bills combined while I took care of the mortgage for the year, then I'd refinance.

Your refinance loan amount isn't enough to pay off your initial financing.

I assume that I don't actually have to pay the capital gains until the principal repayment exceeds my cost basis, which on an amortized loan would be quite awhile (assuming they don't refinance and pay me off altogether).