A couple issues with Credit/income on paper.

At it's basic level:Assumption: Asking the bank to turn the loan over to you and going through the normal underwriting process, credit, income, DTI ratio etc SubTo: Taking over the loan without telling the bank, no underwriting, no credit check, no income verificationBoth have risks, but it's not my intent to be detailed in this post.

million in addition to their investors (who expect a reasonable rate of return) by keeping the rental rates at a fraction of the market rate?

Point Breeze has numbers to back up the hype, big reason is that it has exploded by  Ori Feinbush from OCF who can be credited with blowing that neighborhood up, as he is doing with Grays Ferry, specifically evident of the properties closer to 25th street and even more so as you get to close to Washington where you see similar values and new builds as you do in Whitman and Pennsport (just the southern part really a few blocks north of Whitman, you're on point that the rest of Pennsport is better).  

.: Quote from @Jay Hinrichs: when I was buying notes I did not even run credit.. but I only paid 10 to 20 cents on the dollar.  

What's the lowest credit score you will allow?

After the initial inspection we sent a response to the inspection asking for $21,500 in seller credits to cover the roof and furnace (both needed replaced). 

Had someone in mind who I thought would be great but he wants to add fees that I feel are unfair including $200 admin fee (on top of credit report fees) and mandatory 41.45 monthly for enrollment in their program which includes rental insurance and hvac filters, identity ins, and a few other little things.I've managed to keep costs pretty low for my tenants but realize I've been cheating myself. one is buying. 

Hi Jerrell,  The best option for trying to get a HELOC on a property would be to check with local credit unions. 

Once you have a deal they will guide you through the process and even help you attain the funding with out coming out of pocket or using your personal credit.