HML for those without DEEP experience are about 2 and 12 in Oregon.. 

The general idea is that we “go wide” in accumulating a number of properties, and then at some point we “go deep,” by paying them down or off completely.

If so, how deep did he go?

The agent is supposed to visit a place deep in the ghetto, taking pictures and emailing them back to the investors.

Maybe not, maybe they appreciate, maybe you don't care, with the money you pulled out, you added enough "actual" value in other investments, but unless one of the "maybes" is "you plan to skip town and default", eventually, even if legal, this will require some dumb luck not to put you in a deep debt hole. 

This is my 22nd or so, although not all were this deep. 

But for those that want to hold forever I can see these being cost effective.. but not if you think your going to exit.. unless there is some strong appreciation.. which the mid south does not really have or the deep south does not have.. 

Starting with a $1mil loan is really jumping in the deep end.

We also do a deep dive on the area looking at population and job growth, net migration, and employment diversification.

If you are looking for permanent financing, not sure how deep the market is for 90% LTV investor loans, but you might find something.