I only ask because that is, in my opinion, the most challenging part.  

Do I go about doing this by performing a Quit Claim Deed?

I recently opened a HELOC and I recall it's at prime for the first year (7.5% currently), and I only paid minimal closing costs.PML or HML I would expect rates >10%, plus points, possible prepayment penalties etc.

The biggest difference here is that you'll pay P+I on the entire loan amount immediately with a cash out, but you'll only pay interest on what you draw on the HELOC during your draw period.

I only see 5 beds and 4 baths in the listing and do not see that third efficiency unit in the listing pictures. 

The pay stubs can be hard copies or digital PDFs generated directly by your employer and sent via email; we cannot accept screen captures to verify income.Once your completed application materials have been received and it appears that you would meet our qualifying criteria, we would send you a link to perform a credit/criminal background check (this minor expense would be yours), and if those results come back acceptable, we would offer to proceed.

so now I only BRRRR or buy on seller finance. 

But, they have ZERO liability for the performance of that tenant.Second, 97%+ have no idea on how to screen a tenant, other than income = 3x rent and a credit score.

It seems like Wagner is just a broker and the issue is with the builder who isn't performing? 

So you can find better performing investment properties.