One more thing to consider with a HELOC that could have effect on the deal you are trying to use it for.

I refuse to believe that he is not able to reach his client, given all forms of communication available today...

So what you are saying effectively is I started negotiations within my 45 days identifications period.

I thought it was worth a shot so I began communicating with them. 

. - I communicated with realtor completely through texts and emails. he was very responsive and active.- We started looking for a property in June mid, bought in July and closed in 1st week August.- i was all excited in getting it leased asap, working actively with my realtor and listed for $50 less than the recent comps.

It depends on your location, size of property, purchase price, nightly rate you can get, your upkeep of the property, and many other factors.If your unit shows well in photos and if you build up some good reviews in the first months, and your pricing is reasonable, it will be consistently rented.We have 3 of them, and all less than 1 year so the jury is still out, but in our experience so far, the startup and ongoing costs have been higher than expected, but all are getting good reviews, so in year 2 (now that they are stable) we expect to do pretty well.You have to make sure your town allows it, and you have to decide if you will manage it yourself and take on that extra work (communicating with the guests and people who will clean/make repairs) or if you will hire a property manager, which can be expensive, upwards of 25%.

So I have them in a ladder like rotation, the first 5 yrs I only have two balloon payments, but I have forecasted that I can afford 3 at year 7 and etc... as you pay off, your surplus grows and you get a snowball effect.

Those payments therefore cancel each other out.The net effect of these two separate transactions is that the seller is able to defer the capital gains tax for 30 years and also obtain cash equal to 93.5% of the net sales proceeds (via the loan).

If you can offer this service in a reasonable, cost effective way , (which I think today's technology allows you to do), I think there's a lot of potential to grow, just by virtue of the fact that landlords know other landlords, and your name will be out there.

I still would not even consider those, here is why:These types of properties will almost certainly require significantly more time to effectively manage, even if you hire a manager, they wont or do not want to manage in these areas (its more work for less money, to due to lower gross rents).