@KiKi Wood Is your person for STR set-up in Indianapolis!

He is not in a position to begin lending money for several reasons.I assume the HELOC was made against his personal residence.

Will the person get paid for that?

My favorite part is having a dedicated contact person that walks you through the entire platform and helps you get set up.

I overheard a conversation where someone stated that if a developer is the GC of their own project they must be a licensed contractor.

The deal was done.Banks and checks didn’t exist for them and so every month I would personally go to the property and collect the rent in cash.

When you get them on the phone setup a time to do a zoom call, see how they do business, who the connections are they have, and if you get to know them through those conversations and feel good go meet them in person.

Talk with local banks, regional banks, credit unions, mortgage brokers, etc... keep having conversations with lenders until someone is willing/able and excited to help you through this exciting journey!  

I would also look up the statue of limitations for the tenants to come after you.This might be a personal liability insurance question.

Personally, I don’t love the idea of selling.