@Anthony Dadlani this specific scenario might be only once every 5 years, however, I wouldn’t mind partnering with someone for a more traditional flipping strategy.

Q: On financing: I've heard on podcasts local lenders are better than traditional banks given your WellsFargos, Chases, etc usual have high loan balance requirements to lend.

You either redo all together or use beauty band traditions or diffident treatment on extended portion.

I have been looking there and the properties are much cheaper than the traditional sales.

This way we can do many properties at a time WHICH results in MORE PROFIT each year and no waiting for contractors, losing sleep, etc.TIP: You CAN get properties in the MLS without needing a traditional agent or paying a commission.

Non-QM Loans offer a plethora of major advantages for the savvy real estate investor than do normal lender loans (Fannie Mae/Freddie Mac), but they are also more expensive than traditional lender loans in terms of down payment, closing costs and interest rates.  

Once you have this framework, you can go through the specific limits of coverage just like you would with any policy.Lastly, when you decide to move out, you will need to convert this to a traditional Landlord policy.  

I have personally been considering a HELOC vs a traditional mortgage on a free and clear property.

But will seek a traditional commercial lender.

I did it for a couple of reasons 1) never did a condo 2) different market so I needed an underwriting appropriate for that market and not want to use underwriting from my traditional market.