Sounds shady...In other words, instead of bringing in cash you're putting up equity, nearly the same as cash.

Feel free to reach out via personal messages. 

Are you using other peoples money, hard money, conventional, or your own cash?

Please feel free to ask anything about a project you have or are considering.

Then run the numbers for renting to see if it will cash flow, keeping in mind that you will have 3 years to sell without paying capital gains.

.- Higher Cash Flow Potential:Certain markets might provide better rental income, leading to increased cash flow.Cons:- Limited Local Knowledge:Understanding the nuances of a new market is challenging without on-the-ground experience.- Property Management:Managing properties remotely often requires hiring a property manager, adding to your costs.- Increased Travel and Communication:Regular visits and long-distance coordination can increase both time and expense.- Legal and Tax Complications:Navigating different state laws and tax regulations can be complex and confusing.Out-of-state investing can be a great way to grow your real estate portfolio, but weighing the benefits against the potential challenges is essential.

How many months of free rent are you going to have to give a new tenant moving in?

After you cashed the check it got closed.

Are they trying to pull cash-out?

I understand the concern about using a HELOC for a down payment and the potential challenges with cash flow.