I don't like paying interest on my down payment unless I know it's a temporary aid to get a good opportunity.

If you have extra cash at the end of the month, then do double up payments on the mortgages so the principle is reduced and this will increase your heloc room.

whats traditionally referred to as "DSCR" loans are not going to be eligible in non-state territories unfortunately

@Tom OchiengI would reach out to a real estate attorney for specific advice on this situation since you already have one tenant who is being difficult.On a side note, when I have inherited tenants, I have been most successful when I have provided longer non-renewal notices, like 60-90 days, and offered to assist with moving costs.

And for any who question how legit my info is on sec8 Payment Standards, here ya-go, the current 2024 rates in this area.

Non-payment of rent is always the path of least resistance to get someone out in a somewhat timely manner.

On the lease, he'll pay me $100/m over my HELOC payment and all other expenses, including the refi cost, inspections, title work, etc... 

I will insure the property as a non-owner occupant. 

Or a seller finance calculator showing the monthly payment based on negotiated price, interest rate, down payment, etc.

Quote from @Jaycee Greene: Assuming you pay asking price, I'd estimate the down payment for something like that using a hard money loan (HML) would be around 40% of the purchase price and your monthly payment would be $2,600 with an interest rate in the low 7% range (probably need a 700+ credit score to get that).