Total operating income is $8,600 per month so even if I borrowed the full 900k it would still produce an outstanding cash flow (for the Maui market - which also has a huge added incentive of having a very high chance of appreciating).

@Robert Matelski Cant stop now!!

Stop wasting your time searching for a HELOC on a Cash Out of an Investment/ rental property over 80% CLTV, because it ain't happening!

That $10K would be all available, or the IRA could joint venture with another investor not considered a disqualified party to your IRA (you, spouse, lineal family).An IRA may borrow, but must use a non-recourse loan, meaning no personal guarantee from you or a disqualified party. 

In FL, when you're buying someone's Homesteaded Property, this tactic can stop everything dead in it's tracks!

If it is owner occupied, you should not have to use an MLO if you have not done more than 3 owner financed notes but confirm with your attorney but you still need to confirm the borrowers ability to repay (which you mine as well get an MLO to do it for $250-$500.

Frank Guzman to answer your question - when a borrower/ owner quit claims the deed all they are doing is transferring ownership but it does not mean the title is clear for the new owner.

You might want to borrow more that they'll let you!

(and borrow the $$ from the person with cash in their IRA) Russell, congrats on choosing real estate as a profession. 

That is exactly how I started.1 I quit my job1.1 Got the Clever Investor Package)2 Started my company3 Cried for days4 Decided to stop crying5 Cried a little more6 Decided wholesaling is the way to go.7 Created a website!!!