Especially since you are looking at properties that are already high value.

HELOCs typically do not go above 75-80% of value and since the property was purchased recently they would not see that equity unless you did some major rehab to the property.

It depends on your financial strength, the quality of the property, how many properties you own, etc.I like to start with one significant expense and three months of vacancy.

Whether it be cleaning their properties or doing manual labor.

You must have known the property was in arrears, so it becomes your duty to be in contact with the bank through the process.

He can fight the seller to still buy the property but you are out of the deal and want your money whether he signs cancellation or takes it from his pocket.Key thing is focus on your agreement / contract and your rights.

You can list the property as a "net listing" and take the difference over what the seller is willing to sell for that way. 

Michael had built his portfolio from the ground up, starting with a single rental property.

.🔹 Property Tax Relief – If your property is severely damaged, you may qualify for reassessment and potential tax refunds.

I'd keep an eye on ancillary properties that become available.