Here are some tips to help you negotiate effectively:Know Your Numbers ColdBefore entering any negotiation, understand the financials of the deal inside and out.

The agents are charged for this service no matter what so it's difficult for the agent to service from a time and financial perspective.

Too bad you can't buy something owner-occupied, put 5% down with the best interest rate, live in it for 12 months (and fix it up), rent it out and repeat the cycle.Here's some other info you might find useful:----------------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Please let me know the financial implications. 

Quote from @Anthony Stephens: It sounds interesting but my concern is that this would be an unsecured loan to someone who may not be in a good financial position.

It's a townhouse in Ohio, and as per the estimated financials, I could be looking at $400 per month in cashflow.Problem is...

Even if rents are trending up, if your tenant base can't make ends meet, the asset won't perform.

I don't know CLE per se (I'm based in STL), but I know the financial side of gut rehabs in urban centers of big cities.

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The key is to ensure the HELOC doesn’t turn into a long-term financial burden if the partnership doesn’t pan out.