However, if you are refinancing a property purchased with cash within 6 months of purchase, this is considered delayed financing.

Kodie,Sorry for the delay! 

You will get the experience, guidance, and minimize your risk.

Of course you could also send by registered snail mail to property, sellers agent & wherever the owners live - but this adds delay. 

To minimize audit risk, it’s advisable to choose “Other interest” instead of “Mortgage interest” when reporting.Part 2: Forms 1099-INT from Investors to Private LendersForms 1099-INT Explained: Similar to the interest earned on savings accounts, Form 1099-INT outlines the interest that must be included in taxable income.

The delays are usually in non-compliance as the importance of compliance to building codes for new (and better) insurance in FL is very, very important.

Hey Inga, As long as the HELOC is not against the subject property (and there are no other liens) you can do what is considered delayed financing. 

It is worth considering more conservative strategies to minimize risks and increase the chances of success.

While CMHA tenants may offer guaranteed rent payments, there may be additional administrative requirements and inspections involved in the process, which could lead to some additional headaches and potential delays in receiving rent payments.

As an aside I buy properties I can fix up upon the initial purchase or shortly thereafter so as to minimize future expenses.