I told them, I've tried renting before during February, March and have found little to no leads because my community usually caters to families with kids in school etc.

The plan is to use the heloc to purchase additional properties, and basically brrrr and pay back the balance - then repeat.What I didn't realize is how difficult it is to find a business heloc.  

Yes, @Chris Seveney, this is basically what their model is.

Portland has one to the Lloyd center once the largest now basically defunct. 

We follow a similar model as @Bill B. and with similar results, except our properties are from the 60s, so we gut them and rehab from the studs up, basically resetting the clock. 

I randomly picked three OTC parcels in an Arizona county and did some basic research.

Basically, you're gambling on the second appraisal and at most you will lose the $1000.  

There is basically zero chance of that occurring.  

That 2nd requirement is  what makes it close to basically impossible with a W2 job.

This is for basic informational purposes I am not an attorney and this is not legal advice.First, if you offer to purchase a property using a HELOC to fund the purchase you cannot later back out of the agreement because you couldn't find PML or investors.