However nowadays they generally want you to have money in the deal no mater how good the deal is.It sounds like this wont be an issue this time. but understand that if the property needs repairs your only choice is a construction loan or hard money.

I guess another option would be to repeat the same Regions Bank refi on this property as well to free the cash up to make another purchase and then refi again in December.I have looked into commercial lending and these properties wont cash flow very much using the 15/20 yr terms they offer, or at least the ones I have spoke to.The overall goal is to pay cash (from HELOC) for properties and then refi them into 30 yrs for as close to ARV as possible and as fast as possible :) I know it's a tall order in this climate.

also one of the books i have read about real estate says ( if you are going to invest in real estate multifamily deals the bank wont look to your ability to repay but will look to the property itself , then decides how much he will going to lend you 80% - 90% ) guys is that true? 

Another thing was that even if you get approved for delayed financing you wont be able to get your money back for 6 months!!

But something tells me once they get a taste of the real-world we wont have a problem getting them back their 75k+ jobs for 9 months of work. 

Even worse, these were rental applications submitted years ago which should have clearly been destroyed post-processing, but were clearly saved on drive and never considered again. 

So you can get less rent and they can keep destroying your property? 

Vinyl is cheap and will get destroyed with a decent hailstorm. 

They filled in a swimming pool with trash, used it as a skateboard park, destroyed the plaster and cement under the plaster, sold the filtration system and heater. 

My entire heloc will be tied up in this place so I probably wont be able to do anymore deals anytime soon.