It takes a lot of phone calls and asking around, but you can normally find a local or regional bank that is willing to work with investors on these types of properties.Mike

They are usually looking at C or D properties that local agents tell them will “cash flow“ They usually don’t cash flow because of high maintenance and vacancy.

You’ll want to check with local credit unions or smaller banks since they often have more flexible HELOC options.

@Kuba Rogut options:1) In-house maintenance team2) Out-sourced local maintenance team3) Outsource to Latchel, Porch, etc., 3rd party companies4) Mix of the above

BTW: did you check local ordinances about boarding room rentals (which this would be)?

PM me if you need any help.Anti-eviction act law https://www.nj.gov/dca/codes/publications/pdf_lti/grnds_for_...

Research local rental demand, especially from military and university tenants, and consider balancing your portfolio with single-family and multi-family homes.

I'm looking for advice on whether I should purchase my father-in-law's 6 unit apartment in Burien, WA (10 minutes south of Seattle) as my first deal, or perhaps help find him a seller that would pay more than I could and is a couple years ahead of me in REI. 

Being a part of the local REIAs in both towns can help you understand more of what is going on.  

I plan to manage the properties myself until it conflicts with my regular job.I would appreciate any advice on these markets to ensure success and connect with local investors.