Typically HELOC lenders don't escrow since they're often set up to be in 2nd and rely on the first to check tax/ins more regularly.

But they are getting the advice from people who are either (1) not qualified or experienced enough to rely on their advice (2) biased to some degree, perhaps unintentionally, by their background, business interests, training, etc, or (3) providing advice in a general sense without a thorough understanding of the questioners personal situation or ALL the relevant facts. 

Every adult residing in your rentals should be screened and approved by you.Criminal history is not an automatic denial, but you should definitely consider risk.

You will have a difficult time operating the properties and will most likely fail to sell the property for anywhere close to the appraisal that was relied upon for the refinance.

One is the programs relying on doing deals that just don’t work, are quasi illegal, unethical or can’t be accomplished enough times to make the endeavor worthwhile.  

Unfortunately the ARV we relied on was significantly off and we have been stuck paying a high interest payment on this loan for months.

The information contained in this post is not to be relied upon.

The information contained in this post is not to be relied upon.

Here's a quick breakdown of why they might be a good fit for you:No Personal Income Requirements (No DTI): Unlike conventional loans, DSCR loans don’t rely on your personal debt-to-income (DTI) ratio.

Because we were out of market, I decided not to sell myself (as a licensed broker), and instead, rely on the local professionals.