Most often it's in free & clear properties but, in a high enough desire area like these, and with low enough mortgage balance, yup, some can 100% get enough on the sale to have it all make sense because as @Jay Hinrichs has pointed out that in these areas the majority value is in the land not the structures on the land. 

No major issues so far. 

Nicholas L deserves a major shout out in regards to looking out for others too.

Any other major syndication site has restricted sold data so it will be incomplete.

I mainly use FCI and Madison for the majority of my notes.

The thing that the gurus never tell anyone is that the majority of creative finance deals are done by investors who don't need creative financing, that is their leverage and why they can walk away, thereby making them more attractive then the one person who can only do the deal one way because they have no money of their own.

Additionally, Gilbert and Chandler have emerged as strong markets for short-term rentals, benefiting from a combination of year-round tourism, a family-friendly atmosphere, and proximity to major attractions.

As Miguel mentioned above, a majority of the time MTR residents do not search for housing in advance.

Using a heloc as 1st mortgage really only has a major benefit if you have idol cash sitting around from your paychecks. 

Those four classes are where the majority of investors will buy rentals.