Quote from @Andy Port: I'm currently looking to take some money out of traditional investments and begin investing directly into real estate as a passive investor on syndicated deals.The internet is pretty much copy-paste with advice on how to access real estate and defaults to saying "Just invest in a REIT - its the same" except you pay for the entire pool of existing properties (even if they have low yields in less opportunistic areas), the entire management team's multi-million dollar salary and their private jet, etc...

I have been working with a credit union to get a HELOC to allow me to tap my equity to buy additional real estate.

The other option I would consider is regional credit unions that hold onto mortgages/loans and don't sell them to the secondary market - they are "portfolio lenders" and have the ability to be more flexible with their terms.

It's a different kind of program where we don't even consider the DSCR on the property, we mainly just look at the borrower's credit, their investment experience, and the property itself (where it's located, value, use, etc).

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

The home buying process typically follows these key steps:Assess Your Finances: Review your credit score, savings, and determine how much you can afford for a down payment and monthly mortgage payments.Get Pre-Approved for a Loan: Work with a lender to get pre-approved, which gives you a clear budget and shows sellers you’re a serious buyer.Find a Real Estate Agent: Partner with an experienced agent who knows the local market and can guide you through the process.Search for Homes: Browse listings and visit properties that fit your criteria (location, size, price, etc.).Make an Offer: When you find a home you like, submit an offer through your agent, including contingencies (financing, inspections, etc.).Home Inspection & Appraisal: Once the offer is accepted, hire an inspector to ensure the home’s condition and the lender will order an appraisal to verify the property’s value.Secure Financing: Finalize your mortgage by submitting required documents and ensuring the lender clears you for closing.Closing: Sign the final paperwork, pay closing costs, and receive the keys to your new home!

If you have access to a line of credit on your primary home, that could be a good option.

what is the best way to fund renovations on a flip project (other than cash)hard money lender, line of credits, credit cards?

My credit score is 700+ so I don't understand.

The prospect completed an application and checks the credit and income boxes but does have a mark on the criminal record.