No fluff.

They will tell you exactly what is needed, so there's no confusion.

NO Financing How did you add value to the deal?

I am thinking the Pros of the HELOC/HEL are a faster closing, perhaps a cash discount for the purchase, no PMI, lower rate/cheaper closing?

You want to buy real estate with no savings, which even if you can scrape together a 10-20% down payment, means you will have no cushion to fall back on when the inevitable surprise expense happens. 

Absolutely no communication. 

I just paid another $400 and still no app.

He doesn't say no inspection, he says no inspection contingencies.

I'd suggest that there is essentially no tax implication for this as compared to your alternatives.

No 4 unit multifamily has sold in the last 2 years.