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You only really have a couple of options.HELOC/LOC with the property as security.Refinance the first and walk away with a bigger first.A great way to get into properties with little money down though is to buy distressed assets at a discount, force appreciate them, and refinance to pull the cash out.

It is not exactly a straight forward one way or another answer in our market. 

I am considering posing this as a zero interest deal, so the $72,000 ($2,000 x 36 months) paid in the 3 years leading up to the balloon would go straight into the principal, and so will the $17,500 down payment.

He came back and said that discussing price discounts that he's established with vendors wasn't appropriate.  

That said, I also have a friend who does flooring and gets a warehouse discount, so thats a plus. 

as long as owner intents to occupy and has control, they are able to lease out. the biggest thing would be to not have a PM manage the property, as of that point they would then have control over availability. straight from FNMA guideshttps://selling-guide.fanniemae.com/sel/b2-1.1-01/occupancy-types#:~:text=Second%20Home%20Properties,-The%20table%20below&text=If%20the%20lender%20identifies%20rental,including%20the%20occupancy%20requirement%20above).

Purchase Discount: It's crucial to buy properties at a deep discount if you plan to BRRRR and get cash back.

I was told I need 15-20% down for a DSCR even with the discounted price.

That **** comes at once, and it takes you straight down with it.