Never a guarantee, and see how #1 applies here too.3 - 3 co-investors, all making negative cash flow, all banking on a future event they all have no control over. 

If however the payment does not go through then a late fee is applied.

Frequently the REI/consumer applies to 3 or 5 different HELOC lenders before a credit line is actually opened -- the better rate HELOC has higher standards, so REI/consumers go through this time-exhaustive exercise of getting denied a bunch because the 4 best rate HELOC lenders denied them, it's not until the 5th that it's approved and open.

AS for your property just out of curiosity did any of the following apply or get addressed?

It is good you understand the terms of Cap Rate but this applies to true multi family properties that are relevant to values and commercial lending of 5+Multi Family Units.

I highly appreciate these recommended books because I honestly do believe the knowledge comes first and THEN apply that knowledge in real-life situations.

The strategy and numbers make complete sense; however, I am concerned that using a Personal or Business Line of Credit will cause issues when applying for the new Cash-Out Refinance mortgage.

@Lorry Champagne When you apply to the tax collector to send a property to a Tax Deed auction....if your certificate was say $1000 and you had to pay an additional $5000 to redeem the other outstanding certificates and tax collector fees, then the minimum bid at the Tax Deed auction would be $6000, the money you already have out of pocket.If someone else bids that $6000 minimum, then you get repaid.If no one else bids the $6000 minimum, then you get the property/Tax Deed......that sounds good at first, but realize that means you just paid more for the property than anyone else was willing to pay.BTW,I agree with Ned, all these training/buyer clubs for tax liens are useless.....most of them are selling you junk liens that no one else wanted, or a lien that someone bought then realized it was a mistake.

Business expenses are not deductible (after the tax reform), and the new 20% deduction on net income does not apply.2.

I am applying for commercial credit.