@Timothy Frazier Yes, the only reason to use HML as a down payment is if the property is "mostly turnkey" AND you don't have the funds to renovate AND you have strong CMA comps from a real estate agent that supports that the fact that you are buying a property that is under valued AND your renovations would push that so that you could refinance.

Im North of Phoenix South of Flagstaff. Do I need to choose a location close to home or farther away? Do I wait to get more cash? Go with auctions? I have preaproval for a 250K loan now. Houses are mostly at least 450...

Beal Real Estate helps our clients find the best commercial and residential off market and listed deals available.

Any advice or recommendations for funding, mentoring, partners, real estate brokers or attorneys would be most appreciated. 

@Keith AngellFrom my experience, both a HELOC and refinancing have their advantages depending on your goals.

Depending on her contract she may have to wait out the term.Is she currently covering utilities?

Collecting rents is an art and a science.What you should depends on where they are with their late rents.

Also depends on if you yourself are a real estate professional.

Also, as a licensed broker, it's important to note that real estate brokers are not Zoning experts. 

A relative who does long-distance real estate investing told me that I have to sign the final loan document and the transfer of ownership document in person.