For example, purchase price of 100k with 20% down and 5k closing costs would be $25,000 to acquire the property. 

If permits are required who is responsible to acquire those permits?

Your partner could supply the money necessary to acquire the property, and you can be the one to manage it.

I’m not necessarily looking to wholesale, but more so looking to acquire more rental properties.

Is this presented to the city prior to acquiring a property during the due diligence period or is a land use attorney or city planner used?

I know with most deals that I’ve done, a HELOC on just the equity would not be enough to pay off the loan used to acquire the property.Third, it’s common for lenders that do HELOCs to have a seasoning period.

This is a property we acquired a year ago, it's a fix-upper in a conveniently located neighborhood, the project took much longer than we anticipated, and with a quite a bit of budget overrun as well.

The closer you stay to the train station, the more value your property will acquire with the years.Feel free to reach out if you have any questions of if you would like to connect with our team :)

I know the buyer has the burden of due diligence prior to acquiring a property, but ethically a seller should disclose issues with the property.  

Because the banks give you a big chunk of needed money if you are going to live there... one time that you live in Switzerland the bank might cause problems (I have Portuguese friends that told to the bank that they were going to live in the acquired house and after rent it without problem, because the bank has no way to proof if you live there or not).