The amount of capital needed to being to the table for closing has adjusted based on some last minute changed and information  brought forth. 

@Jeffrey Burke Long  All of my commercial mortgage loans that adjust with prime will decrease. 

I have not read the terms of your HELOC, you should, it has your answers.Generally after ten years the balance is transferred into a 5,10, 15, 20 or 30 year loan with an adjustable interest rate that is fairly high. 

When I asked about it he said there was a "insurance policy" like feature where if the rate goes down greater than a quarter point it will adjust the loan.

Completely leased up that will result in a $3800.00 per month positive adjustment through proper management and turned units without counting the additional rent of $1700.00 per month from the attic space.

What I'd suggest is you figure out what the property is worth (use a variety of sites to help) and adjust based on the condition of the home, then fill out a contract and hand it to them. ps- be sure to leave a little negotiating room in the offer.Good luck!

We found the renter this week, he filled out the application, and his back ground check and credit check all came in good.Here are the numbers:Total cost including repairs 77kRent $1750Interest payments to the private money lender until the property gets a long term loan $583Taxes and insurance around $150Maintenance/repairs budgeted $100Vacancy/turnover $150Monthly cash flow $767ROI 767 x 12 / 7000 = 131% per yearMortgage on long term loan for 70k at 5.25% for 20 years $472.ROI with long term mortgage 150% per year.ARV - because it is a pretty unique property it is hard to find comparables, but making some adjustments from other properties in the same area, I would put the value at about 195k as is.Please let me know your questions or comments.

@Justin Shelton I wouldnt have it run down looking or anything like that on the exterior but the cost to landscape versus the dollar return on the appraisal, it typically isnt worth it BUT if you have very bad curb appeal in comparison to the other homes around you, they can make an adjustment.

In my market, the appraiser will use lowest sold RE and will make ridiculous adjustments.

One thing to note - if you package all 3 properties into one loan then any time you want to sell you'll have to have the other properties appraised and the loan amount adjusted.