It is fixed for the first five years but then adjustable for the next five with the balloon payment. 

Like some others have said you need to adjust your criteria for Tennant screening with these assets but once you understand what kind of credit profiles your generally dealing with you will learn what to look for.

Happy to chat in detail especially as I'm writing an article on risk-adjusted returns and portfolio development for real estate assets. 

I guess I feel bad for the clients of that army of highly paid CPA's as Section 162 trade or business expenses was unaffected by the SALT adjustment of under the TCJA.

If I was running another option on this deal, I'd adjust the interest rate to 5.5-6%, put 20% down, include $5-6,000 in initial repair (even if that's just cleaning and painting), reduce the monthly expenses to 8%, include PMI at $100/mo and then see where that lands you.

It is always good to constantly revisit your 1,3, and 5 year plans and make sure you're on track or make necessary adjustments to get back on track. $18k-$30k can be plenty to get started in real estate (depending on what market you're in and how you use it).

You may have to adjust your pricing but you should still generate more income than LTR.

Disclose to seller that based on the appraisal value the initial offer will be adjusted to 60% of the appraisal value.

With a MTM, it gives me so much more flexibility in potentially giving a 30-Day Notice to adjust rents, add/subtract lease terms, and/or weed out problem tenants.

HELOC is just a credit line, So you can buy/rehab and refinance with a regular loan in order to pay back your HELOC if you want or pay back the HELOC with time.Depending on the type (1% Payback or Interest Only Payback) if you borrow 80k, your monthly payments would be $800 - if you were renting for say $1000+ and covered all expenses, then you could just pay back your HELOC and if rates adjusted, your payments is still 1% payback - you would just have more interest added on for the life of the loan.I have a HELOC and opened it up to be able to fund my rehabs or have extra $ to close on a deal.