We are in an environment of one of lowest unemployment, lowest defaults in history and have significant inflation.

3. would it help to tap into the equity as an LLC versus individual if your credit is not great?

I am not willing to put my credit rating in the hands of a tenant. 

Hello BP Community, Does anyone have any suggestions for local community banks or credit unions in the Indianapolis area, or Indiana in general, for pulling a HELOC on an investment property? 

Some military credit unions offer business loans and mortgages for buying properties. 

I don't like the credit unions for the most part any more. 

The article does say " Alternative Assessment Methods: Consider looking at a potential tenant’s credit score, rental history, and references.

DSCR requires No income, No Taxes and Commercial requires a PFS, occupancy ratios usually above (90%), Credit scores above 720+ much higher assets for (PITI reserves and overall risk, landlord seasoning, and more.A Heloc can be used in most cases for anything but when you are trying to buy a commercial building which is higher risk, the committee/UW can and in most cases will deny it if they feel you are over extended low assets or with no landlord experience, unless you have a meaty amount of equity to cross collateralize for a junior lien on another property.

Just from a credit, income, and experience standpoint, two years in college will teach you a lot about the local market and you will be able to understand who lives off-campus and why.

During inspections we were able to negotiate a $17,000 seller credit.