The idea is that he will 100% fund the acquisition of buy and hold properties (down payment, etc.) and I will 100% find, acquire, and manage the buy and hold properties. 

So be careful and make sure you interview the Expediter and that they have had success in obtaining the Letter of No Objection.As far as evidence that you need to gather, look up your buildings TAX Class.You will find it here: Building Information SearchHere you will see something that looks like this:NOTE that while this is a Dept of Buildings Web Portal, what I have circled in RED is the Department of FINANCE Building Classification.You may not have a CofO, but the Dept of Finance maybe taxing you as a 2 Family.

@Dan Dares TMYou can use your familyMember but they will need to be a part of the deal and the bank will most likely want them to personally guarantee the loan.

A Home Equity Loan is usually a chunk of money you get up front and start making P&I payments on right away for a set amortization period.

And the seller called to tell me to keep my head up.

We have a buyer for the property and now it has been discovered that the corporation paperwork was submitted to the state as a charitable contribution even though we are listed as a not for profit organization and have been listed this way for well over 40 years.

Did you miss this in the same forum 10 days ago with 95 replies?

Purchase price: $120,000 Cash invested: $40,000 Sale price: $215,000 Probate deal.Beautiful 4bd, 4ba acquired from a family looking to sell the home after receiving through an estate.

They lend you the money you need to buy their house.Subject to - you buy the house subject to the existing mortgage.

If you don't have a good foundation(bad debt paid off, $$ saved up) I would first focus on that.