3) How well prepped was your property?

My plan is to funnel the rental incomes from all three properties, along with my W2 income, back into the HELOC while covering all expenses from it as well.

I live and invest in Milwaukee since 2007, so probably a little bias here, but we are set up very well for future growth. 

Yea they would keep that in place and you'd get a second position mortgage for the rest at, well, higher than todays rates.

That probably doesn't work well for rents, and the neighborhood will look beat up in 10 years, when almost every house got sold to investors.  

I'll be getting several more opinions from other plumbers as well.  

Alot of unknowns as you don't have the ability to walk the property beforehand, but interesting process, and pretty good deals exist there.While the Trustee Sales are cash purchases, there are many hard money options that can turn over the funds in time for the 24 hour funding required to complete the purchase.If you are interested, let me know and I can go into more detail, as well as make some other suggestions for you to consider. 

They contacted me as well through someone I know but they have not used them yet.

Money now is very good because you are new and ready to do all the work, but the examples you'll hear about are people posting on BP saying, "well, I did all the work and they got a lot or most of the profit." 

Post back if you find another lender who serves you well, and I will add them to my list and pay it forward.Ridge Lending All in One, first position HELOCAmericafirst 80% LTV on noo 65% LTV UtahArvest Bank AR, OK, AL, MO Bank of the west BB&T will loan on a rental portfolioBBVA Compass Boeing employee credit union California: Cal Coast Credit Union and Fremont Bank.