@Hellen Sut in Michigan, once we have a money judgment, we try to garnish: wages, bank accounts and their state tax refund.

It'll range from - no problem link a bank account and continue payments to you have 30 days to pay back the loan or we'll default it.

Working with a local bank it was a breeze.

That is your denonimator.You also take the cash flow you get from rent minus all your expenses, so at end of day how much $ is in your bank account for the entire year.

While very lucrative - if you don't have enough reserves, it can really break the bank. 

@Cynthia Lee Depends on your jurisdiction, your relationship with the tenants, and your end game plan.

Does she or I call the bank to see if it's possible to transfer?

@Jennifer Fernéz I run sum numbers for you with our tool, see comments and pics below before refinancing and post refinancing .Financial Breakdown: Purchase Price: $200,000 Mortgage (LTV 80%): $160,000 Interest Rate: 6% (30-Year Amortization) Mortgage Monthly Payment: $959Upfront Costs: Down Payment (20%): $40,000 Closing Costs (3.5%): $7,000 Renovation Costs: $15,000 1 Month of Carrying Costs During Renovation: $1,548Total Upfront Required: $63,548Year One Rent: Monthly Rent Income: $2,000 1 Month Rent Losses during renovations (-$2,000): -$167/month distributed over 12 months Total Rent Income: $22,000 per year => $ 1,833 per monthMonthly Expenses: Mortgage Payment: $959 Property Tax (Assuming $3,000/year): $250 per month Property Insurance (Assumption): $100 per month Utilities (Hydro, Gas, Water): $275 per month Assuming 5% Vacancy: $92 Assuming 0 % Repairs & Maintenance first year because unit has been recently renovated Total Monthly Expenses: $1,676Monthly Net Cash Flow: $157Post-Renovation Refinancing Strategy after 12 months:So far, we’ve purchased the property, completed renovations, and rented it out.Next, you can approach the bank for a refinance to consolidate a portion of your initial investment into a mortgage.

Best places to look for a HELOC are often the small community banks and credit unions close to the property.  

They obtain and manage capital, whether it’s private equity/debt, bank financing or personal capital.