They acquired the exiting LLC and mortgage.

Enough immediate cashflow to balance out the mortgage, taxes and insurance.

When that portion was complete, I could then receive draw money which allowed me to pay my utilities, taxes, and mortgages.

When I tried to get it when my side of the family found out and tried tp take over reverse mortgage payments to bank because she had died it was to late so they sold the house to Hud and then other reverse mortgage companies but a relative still lives there so they can't kick them out.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

Jung,Welcome to the BP forum its a great time to start as mortgage rates fall and home prices still priced well in many states.

If she went to buy a house and applied for a mortgage, I think the lender would say the same thing aka you don't qualify until you get this removed from the credit report.

The biggest determining factors for STRs in the area are purchase or build price (and associated mortgage) vs rental expectations, that will help you determine net cash flow.

For a first-lien HELOC on a 2-unit rental property, I highly recommend reaching out to Taylor Adams at A&N Mortgage.

Yes, a HELOC or bank a line of credit is different than a lump-sum amortizing mortgage (DSCR or otherwise).