Is there a specific one for this situation?

I went back to the seller and explained the situation.

They are also rarely in a desperate situation yet have equity that could provide a margin.

While there is some predictability in certain outcomes/situations - what we have found is the "path to least resistance" meaning the less the borrower has to do the better.

This situation is risky, but you can mitigate it by requiring a higher deposit or paying them several months in advance.My policy is that they must show at least three months of employment.

Even from the good ones, the quality of their answer is dependent on the quality of your question (so educate yourself to ask the right questions in the right form...which is what I think @Max Bellino is trying to do here).I don't know if Max can benefit from my notes and diagrams, or if they apply to his situation and plans, but since you mentioned them, here they are - just be advised this is from a lot of sleeping at Holiday Inn Express many years ago so take them with a big grain of salt and don't construe them as legal or tax advice:If you are new to REI you should be primarily concerned with finding good deals and growing your business first.

In your current situation, you can do a HELOC but only if the home is free and clear.

@Mitchell Kosek This is crazy—I went through the exact same situation!

I have $1.5M in the bank, and I’m trying to figure out the best move for my situation to start building out my portfolio and making moves towards financial independence.

Not that this is your situation necessarily--I'm not sure if you're going to rent out an entire place or a room--but I thought it was worth sharing.I hope this helps and if you want any more info or feedback, please DM me and we can set up a time to chat!