My buddy sold for ~$500k over its existing use value and no contingencies and did not even convey existing tenant’s deposit.  

Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.

From what I've heard, local banks are sometimes more flexible than the big guys.A buddy of mine managed to snag a HELOC on his rental property, which isn't always straightforward, but it opened doors for him.

Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.

Rights only an owner can convey, not your neighbor, not your Sunday bowling league buddy, only the property owner. 

Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.

So i can fix it up/ rent a room out to a buddy/family member for one year.

Towards the end of last year, one of my buddies contacted me and told me his accountant told him that he needed to buy some real estate to lower his tax bill.

My buddy John and I had the above discussion years ago before he died. 

@John Rojas Thanks buddy!