I still have clients buying in Vegas, but it's not as common due to cashflows being hard to come by with the traditional 25% down financing.  

I already have one traditional LTR with a traditionally-qualified tenant.

There are some services like Guest Ranger but we do not screen in the traditional sense.Make your house rules clear and make it clear they are enforced, then they tend to screen themselves. 

You can refinance into more traditional loans later, but that initial speed matters.

     * House is a 2699 sq/ft Single Family Residence| 3 beds, 3 bathroom | Built in 1956 | NO HOA     * There is a chance I could pay only interests so I can start saving some cash for the incoming maintenance and annual payment equivalent to the 12 monthly payments (~$5,029.77 per year during the balloon period)The advantages I can identify in this deal for me are:* Lower interest compared with traditional loans* Lower down payment compared with the ones compared for traditional loans* House is technically ready to be rented (waiting for the inspection) * Forecast - 3 yr growth (appreciation) is expected to be 8.1 % (Bigger Pockets)The disadvantages I can identify: * I am still vulnerable to foreclosure if sellers don't make mortgage payments to the bank.* Refinancing issues at the end of the Balloon Payment?

Quote from @Stevie Kim: Quote from @Christian Rodriguez: Quote from @Melissa Ralston: Quote from @Alex McArthur: Hey All! 

A HYSA is a type of savings account that offers higher interest compared to traditional savings accounts!

For a traditional Heloc at most small banks/CU's, the rate will be variable and will be WSJ Prime + a spread that represents the borrower's credit risk.

The "slow flip" I am referring to was purchase the property in the traditional financing way and then live there while rehabbing and improving (adding bedrooms, getting the yards back in shape, updating finishes, building or adding shop space, etc.).

Their online payment system doesn't recognize non traditional banks (credit unions) so your hit with $27 fee to pay with debit or have to take time out of your schedule and go to a Western Union for a $3.95 fee.