The costs to purchase and hold real estate are continuing to increase requiring most Americans to devote nearly 50% of their income to housing expenses.

I also call the local court system to see if anything is flagged on file. 

It's definitely an outside-the-box idea to transfer the property to an LLC before applying for the HELOC.If you move the property to an LLC, lenders might see the transfer as a red flag.

Hey @Peter Faulkner, that definitely is alot of red flags.

As interest rates in the US has skyrocketed and financing has become more available to Americans in certain locations overseas, that advantage isn't what it used to be, depending on what countries you're interested in.So here's how I'd go about it if I were you:1.

Any red flags ?

Some red flags to watch for are inconsistent fonts, blurry text, or mismatched information across pages.

@Dan DeGroff - I think you can probably do this as a primary residence since the scenario makes sense (e.g. you travel to Aspen for work during ski season), however, there are some major red flags here that you will need to explain and support during underwriting (e.g.

There is no reason they shouldn't advertise the unit prior to it being vacant unless they have no idea of the current condition, which is its own red flag. 

IMO a bigger red flag would be poor record keeping on expenses and other documentation that would indicate property condition.Anyway, you're ultimately purchasing the income stream that *you* can achieve, not what the seller achieved.