They have a portfolio lender stipulation that if the customer owns more than one investment property with third party appraisals documented per property that the property can essentially be added to the HELOC pool and the equity owned is added to that pool at the 75% LTV as well.

For what it’s worth, I’ve used PenFed multiple times over a hamdful of years for vehicle loans...the only stipulation involved “joining” whereby I placed $5.00 into an account with them to join.

The underwriter of the loan usually approves the loan with a handful of stipulations. 

Every type of loan has a different stipulation on how much the seller can contribute towards your purchase/expenses.

your purchase agreement should stipulate that you receive deposits and pro-rated rents at closing. while in due diligence you should get copies of all leases and estoppel letters signed by owner and renter that outline current rents and deposits.no new leases are needed as they transfer to you on purchase.

However, you should also stipulate in whatever operating agreement that you draw up that there is no recourse.

It's a "loan assistance" program where the loan provider will bring a 5% down payment to the table on my behalf, with the stipulation that if I sell or refinance the loan within the first 7 years that I have to repay this 5% down payment to them.

This could/should be stipulated in your management agreement.Most of the rates that have been quoted in this thread appear high for the Phoenix market... with the exception of @Derek Janssen  his rates are similar to what I've experienced. ($3.83 SF Labor & Materials for Tile install)Your Management company may have a policy that they only use licensed contractors.

Generally, a contract will stipulate as to the type of financing to be obtained, listing a private lender with no lender in place probably wouldn't be accepted anyway if a Realtor is involved. :)

I'm a little turned off by the price tag of the versions they have now as they stipulate a price per use that is $200+ for the basic, not web access version.