The location of the lender doesn't necessarily impact your chances of getting a mortgage or the efficiency of the process however, local lenders have a better understanding of the local real estate market and regulations as they are more familiar with appraisers and other closing professionals in the area which can expedite the process and you will get a more personal touch and easier communication.

If you aren't a Real Estate Professional, I am not sure adding more to your portfolio, with the main intention being tax reduction, is the best option.

Remember to use the HELOC responsibly of course.

Of course, you can pay them a referral fee. 

Honestly, from the pictures I am unsure where the 16k is going.The ARV also seemed a bit tricky, but honest, some of the quick sales in the area were across the street on a golf course that I imagine would inflate the price of that sale.

I’m reaching out to see if anyone has any advice on how I might be able to reduce these costs or if this is simply par for the course.

Of course they are surfing close to the edge of bankruptcy so.... 

Hi Farshid, I'm not sure if there's a course that is that general.What market are you targeting? 

My partners and I have a property that would cash flow right when we buy it and of course there is potential to possibly almost double monthly rents.

Of course, you have to pay the attorney so you may be throwing more money after bad if they not collectible.