I co-owned a franchise for 15 years, we paid over $1.3 million in rent.

I also do a pre-screening questionnaire over the phone before I agree to a showing.

I do have monthly mortgages to be paid and not having rental income to offset my negative cash flow has been a learning experience and really trying to think of what options I have to have better success at this.

Preforeclosure, Pre-Probate, tax liens are  OK -- however most seasoned and newbie investors are calling these leads as well and making offers.   

We paid back the 401K loan in 8 months and best yet paid all the interest back to myself vs. the bank.Aug 2023 - I went to my local bank and got approved for a HELOC on my primary residence. 

The property was rented and generated $160 cash flow after mortgage, taxes, insurance and property management fees were paid.

If indeed it is stated that the second lien foreclosure is subject to the first, then no, the first will NOT be paid off. 

Whether he has paid rent is immaterial. 

I am looking into my first property and have been pre-approved for a renovation loan from a conventional lender.

No problem with down payment but will need conventional load which is not a problem as I have been pre approved many times just did not find right property.