The local credit union I'm working with to finance the deal has performed a $450 "real estate evaluation" (i.e. off-site, desk appraisal) on the property and arrived at a value of $110k.I questioned my LO about the appraised value and they admitted the scope of the appraisal was to formulate a "liquidation value," not a FMV.

Pen Federal Credit Union which is listed on the site, they turned me down because they couldn't escrow/taxes/insurance on a HELOC loan and it has to have a 1st lien on it.  

Again thank you for any input.I was not able to find a post related to this topic in my local area but I am still discovering how to use this site.

BP members, the link is below.http://www.oldcapitalpodcast.com/podcasts/episode-...Tom, how could your first property afford on-site management and maintenance?  

I've tried looking at the HUD and Fair Housing Act sites, but they are miserable to navigate around.

There is a lot to learn on this site and you are given a right to ask questions to people that have probably have allready been there.  

I am fairly new to the BiggerPockets site.

@Steven Hamilton II or anyone local to the Seattle area, I would also welcome a referral if you've got a good resource in mind.   

Once you find the best candidate(s), walk the job site with them start trying to understand their side of the business a little.

Foremost was my current insurance but they will not handle student housing ie who I am renting to is very relevant..it's a question on the application.