Likely if there is a mortgage the seller would prefer cash at close.

We prefer MTM agreements over long-term leases.

I'm trying to put my personal preferences aside.Full bathroomHalf bathroom

Is it preferable to refi the house and then later get a heloc for more investing? 

Looking at your deal and running my numbers (I also use hard money that lends at 70% ARV, 13.99% interest and 4 points), you would need to get the purchase price down to at least 230k, preferably even lower in order to get the HML to fund the full repair (assuming you can even find one that will do 100% purchase and rehab there).I have spoken to a lot of people doing deals in Atlanta and I know there are some pretty cheap properties there that make great deals.

Or is it a personal preference thing?

I like a 1 year lease, but that's just preference.

I'm sure this will be nonrefundable, but it needs to go towards the future purchase of the property, preferably as part of the down payment.

Do you prefer investing in Tertiary markets, for less price per unit, in class B and C areas or Do you prefer paying more for properties in Primary markets?

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