I found a place that had water damage from the pipes bursting in the winter.

Credit is good and rental incomes cover monthly "nut".I'm knee deep in boosting NOI on my 1st commercial apt - 6plex that was seller financed - but thinking out to a cashout refi.

I'm 20 years old 740+ credit score and a base income of 37k annually(over 40k with OT) working at same company for a 13 months now I'm not sure where to begin and what my options are.

I'm 20 years old 740+ credit score and a base income of 37k annually(over 40k with OT) working at same company for a 13 months now I'm not sure where to begin and what my options are.

After the first $500 they would then ask you to join by taking out a $15k credit line that of course they said you would make back!

This means you want someone you can sue in case they do damages or don't pay their rent.  

It will show my loan account as active and current but mortgage company will report all credit bureau on monthly basis that I'm on "Forbearance Plan".

. - If you turn that equity into a line of credit, you could buy fund 18 SFH turnkey properties (@$70k) in Indianapolis with an average rent of $750 which would equate into over $13,000 per month of income.

Credit reports and eviction reports are a very important part of screening as well. 

The home has $100k in equity so my first choice was to just expand that line of credit which would give me enough for purchase and rehab and then I could do a cash out refinance on the new property and pay off the HELOC.