A financing contingency isn't a blanked get out of the deal free card...

Even so, a HELOC functions more like a credit card rather than an actual loan.

You see like many average Americans My finances are in a small mess, but I’ve just gotten my income tax return and paid down some credit card debt, so I want to use this breathing room wisely.

You see like many average Americans My finances are in a small mess, but I’ve just gotten my income tax return and paid down some credit card debt, so I want to use this breathing room wisely.

If you can find a turn key place, with tenants already in it and it is already managed, and it cash flows...consider getting a personal loan, using your TSP for a loan, credit card advance etc for the downpayment.....if it cash flows only....Some markets a duplex is 250K, while others it is 129K...20% of 129,000 is not unrealistic using other creative ways to get cash. 

Evidently the buyer's lender required him to pay off his credit card balance in order to be approved for the loan, and the buyer refused/wasn't able to.The asking price is $128,000, but I was thinking of utilizing a BP calculator report (shown here) in an offer to show what it takes to achieve my coveted 7% cap rate and 10% COCROI.

Evidently the buyer's lender required him to pay off his credit card balance in order to be approved for the loan, and the buyer refused/wasn't able to. 

Some background: I never keep a revolving balance on any of my credit cards.

I had no cash so I put all of the repairs and purchases on a 50k loan at 25% and 50k credit cards at 25%. 

With this income, I have finally balanced my credit card situation.