The Cap rate for these places are passable but not stellar. 

These investment will require some major work, but I have found them to be stellar cash-flowing investments - even better than some of my out-of-state investments, with the added benefit that my tenant base gives me little trouble.

So basically they are saying loud and clear they dont want any professional investors utilizing their HELOC only the accidental landlord or aspiring RE investor.None the less the product is stellar.

If ya'll are open to working remotely there are several stellar tax pros here on BP. 

One more thing, I am not sure if you are using the lender you're using because you have a previous relationship with them, but with my lender the down payment for an investment can be as low as 15% (and I don't have any other investment properties under my belt or stellar credit).

I guess I could get hurt a bit if rates are high when that happens, but in a 'crash', the Fed is going to bring rates back down.4) The real threat seems to be in overpaying for a SFH or MFH in a market with less than stellar growth prospects. 

Long story short, I paid someone to do my taxes and my return was stellar.

I have found only one that will cash flow and even then it's not stellar. 

In SFBA people pay $1 on the dollar hoping the stellar demand will push up the home prices even more.

If he Mentors what he does out in the market place, he will probably have a Stellar career as a Real Estate Investor and a Mentor!!