I got a 3% mortgage, and closing costs covered.

My question is.....do I have to buy/close on the property before the June 11th auction? 

A heloc is an open end mortgage or in simple terms its a high risk credit line similar to a credit card that sits in 2nd lien position adding another trade line to your credit and reducing DTI.Just like a credit card if you ever miss a payment on any debts on credit or if your scores drop unexpectedly they bank can close or reduce your line of credit.

The capex is 3% and ROI is bad even with the appreciation.I keep looking but best places now to invest in plexs is Fort Worth and Arlington, there is a lot and with good returns.I am currently working with a group of investors to close a couple of duplexs, one in Arlington and another one in Fort Worth.

Most of the lenders I’ve had contact with have the 25% DP requirement, high rates, and high closing costs 

They have lots of choices.

If one of your tenants gets bit by a dog, falls off a ladder, etc. and they have a bunch of medical bills they can't afford, they almost have no choice but to sue whoever they can to get the money. 

Thank you so much Account Closed!

Everything that Account Closed said plus you are already being a nuisance to the seller in my mind.

Was I too close to the mentor and presented competition?