Are you looking to acquire more S8 properties?

Lenders that don’t require an appraisal will perform a desktop appraisal but will typically have a very conservative view on the value of the property to protect the company’s investment.

I get what they are trying to do here, preserve 2-4 unit properties and discourage deconverting to SFH. 

(FWIW,$8K on just the compressor seem excessive.)Otherwise, unless your contract with your GC says they will provide 24/7 surveillance, or you can prove the AC was never installed, you own the problem.If the property has been vacant for more than 30 days, most policies won't cover vandalism unless you have added a Builders Risk Addendum.

HELOCs typically do not go above 75-80% of value and since the property was purchased recently they would not see that equity unless you did some major rehab to the property.

Access to Cash Value: A properly structured permanent life insurance policy (like an IUL or whole life) can build cash value that you can borrow against for property acquisitions, renovations, or even as a safety net during market downturns. 2.

The first mistake is the property is free and clear.  

@Marc DeLeonibus Hey Marc, I did not end up purchasing the property.

Michael had built his portfolio from the ground up, starting with a single rental property.

Tenants don't do ANY work on your properties, never a good idea.