That's the nature of the beast.

I started the old-fashioned way, by making sure my credit/income was good and I applied for loans with banks and mortgage brokers. 

The "wiping the slate clean" will not apply.

My understanding is the 120 days only applies to Servicers of over 5000 loans correct?

It’s a highly desired area so the market is naturally more expensive in this area. 

Your personal umbrella almost certainly will no longer apply on these properties. 

I feel like I have built up a wealth of knowledge and am now ready to begin applying it.

And from most of the landlords I've spoken to, the multi share is great in markets that are super competative (like Seattle) but in smaller markets the fear is that they're making it too easy for an applicatant to apply all over the place without making any commitments.

Does anyone know if it is generally acceptable to a lending bank to use my (primary residence) HELOC as proof of cash reserves when applying for a rental property buy and hold conventional loan? 

By charging higher prices you may chase away some people who would have applied if it were not for the high app fee.