I wouldn't pursue the deal unless you can convince them to allow access to an inspection.

It's essential to evaluate each deal individually, considering factors like your specific market, property condition, and your own risk tolerance.Here's a quick summary of what you might do:70% Rule: Use this as your initial benchmark to assess deals, especially if you're looking at traditional financing with 70% LTV as a goal. 75% Rule: When you have access to lenders offering DSCR loans at 75% LTV, adjust your analysis to match this new lending option.

How would I actually go about accessing the HELOC funds for the down payment?

Purchase price: $220,000 Cash invested: $8,000Located in downtown Woodstock IL, this 2700 sqft 2-story historic home features craftsman woodwork, built-ins, and hardwood floors, with modern finishes. 5 bed 3 bath property with a huge yard, fire pit, and full unfinished basement partitioned and accessible to both side-by-side units.

If its just a shower stall we have gone with curtains on the smaller 3-4ft access installs, but again with kids & the new lower base heights you're going to have spillage so the flooring better be resilient to such a deluge.

A possible alternative to cash out is to sell the property to your family member, so that the property stays in the family and the equity is accessed.

With good access to NYC and to Philly I see this area doing very well in the next few years.

@Steven Rago legally, whoever shows the property has to be a licensed agent.You can try to play games with that and have a handman allow "access", but it's a BIG risk.So that leaves agents & PMCs.You have two choices with agents:1) Pay per showing: since any agent can show a property, find the cheapest.2) Pay Listing Fee: typically 1 month of rent to put in MLS and place a lockbox so any/all agents can show.We do NOT recommend allowing agents to screen applicants - it's a conflict of interest!

Currently:- I'm pre-approved for $275,000 but with my credit I think I can bump that up to around $300,000- Have $10-15,000 I can put towards a down payment or renovations- Have access to the VA Loan- Am saving approximately $1000 a monthCurrent Strategy?

If it's on the MLS, investors have direct access to it via the listing agent or their own agent, so why would be able to buy it cheap and the resell it into the same market that it's already sitting for sale on?