My thought is if I buy it outright and I get a renter, wouldn't I just refi. from a bank  and get all my money back for my HELOC.  

From an accounting perspective it seems to be working ok, but is there any reason to have one bank account per property?

How many times people say they don't trust bank accounts.

Specifically hows the financing, how do they appraise after the '"rehab," and do banks lend about 70% of the ARV as they do on residential properties?

I can tell you from an underwriting perspective though, banks are now looking very heavily into when you bought the home, did you buy owner occupied, did you move out early, and refuse you on even a Fannie/Freddie loan if you are trying to buy another owner occupied ahead of twelve months. 

Some investors bank on the value of a property going up if there's development aka gentrification going on near the property but that's still very risky.

Also, re Zoning officer telling you prices will start going up, I wouldn't take that advice to the bank just yet.

Im trying to get my ducks in a row to buy them at auction with bank financing but would rather try to buy them or get them under contract before the auction and buy them from the current owner.

If its in default she might be able to contact the banks bring the mortgage current if someone is interested in obtaining the property.Originally posted by @Kirsten Goble:I am currently assisting someone with the sale of their home.

So a while ago I heard James Wood speaking, and he mentioned a strategy that involved finding houses with loans that originated with now-bankrupt banks.