Don't take out a HELOC Jason, it's not worth the time it takes for the amount of money you need.

@Robert Ellis-Multifamily and Built to Rent-Minimum 100 Units - Maximum 450 Units-Markets: Dallas Fort Worth, NW Arkansas, South Dakota, Kansas City, South Carolina and a few others-A & B Class (C Class only in main markets and must be priced very well)- Primary focus: Straight from developer / merchant builder

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If I don't have enough for a first position lean, is it even worth it getting second positon liens?

Fannie & Freddie could be a great option for you but they have some strong requirements, Net worth, experience, liquidity, DSCR just to name a few.Happy to connect & see if that product could be a good fit for you.

That's my two cents, I'm sure there are other views.

The repair markup, multiple quotes fee, and HVAC filter supply fee are worth questioning as well.If your MIL is comfortable negotiating, she may be able to get some of these fees reduced or waived.

Worth it?

you know a singing partner /  financial net worth partner ??

do not list as 2 months worth of rent as the security deposit!