Purchase price: $145,000 Cash invested: $15,000 I obtained the home 9 years and am holding it for cashflow as a single family long term rental.

VA loans are the only loans that allow this, and there is no rate penalty for it no longer being your primary home.With that in mind, you could do a cash out refinance today at a higher rate than current market rates which will create profit on the loan, we can take that profit to pay for your closing costs.

The plan was to utilize the HELOC as the down payment then getting a conventional loan to cover the remaining 80%.

Been looking at hard money loans, and also looking at doing a 401K loan from my w-2 job. 

The patent on the 30 year with taxes and insurance was 3900 or so.   

Are you purchasing an investment property or 2nd home?   

I am going to be lending to an investor on a single family home. 

What type of loan is this?

But a tenant may, so the insurer provides coverage for a rental that you wouldn't have in an owner-occupied home.It's important you be very honest with your insurer about how the home is used so they can ensure the right coverage.

Home Equity: What Is It?