That may be worth looking into. 

Finally, this can be time consuming but if you plan to keep working in this market with these types of properties, it may be worth it to reach out to people who have shown interest but didn’t follow through.

This is not typical in the HELOC space.

If you are doing a lot of out of state deals, it is worth a shot!

If the deal is still worth pursuing even if he doesn't fix it, then close.Get a contractor out there and see what the cost is.

These forums are typically more interactive and focused on discussions rather than long-form posts.Thanks for understanding!

It depends on the type of stain but it may be worth getting an estimate to see if it could work in your situation. 

A minor point, @James Furlo, but participation loans are typically loans shared or sold between banks.

It can be pricy but well worth the money if you can afford it. 

They typically have fixed or adjustable interest rates, terms ranging from 5 to 20 years, and amortization periods of up to 25 or 30 years.SBA 7(a) Loans: The U.S.