I would like to make offer before the 15th day, so less competition, or the property might be gone.

It's painful to have to verify if a comp is really legit and wasn't some owner financed sale or weird family to family transaction.

I tell them that after I verify their employment and income I will run their credit and they will have to pay the credit check fee online.

The tenant has to verify their identity to pull credit, you cannot just get their approval on your application.

Funding for the rehabs will initially come by means of a home equity line of credit.

John,It is going to depend on whether you initiated the contact or they contact you.

Has anyone else had success without verifiable income?

Or, you could make your initial contract as "your name or assigns" and then assign the contract.You don't say where you are or the situation of the seller.

Prime + X% is a pricing theme in the HELOC enviroment---even if you found a Prime - X%, it would be a teaser only (initial rate to start the loan, but would adjust to Prime + % after the introductory period).

The credit partner needs some verifiable liquid or semi-liquid assets for reserves.Although these are not needed for the deal to close, they are reviewed for verification use only (bank deposits, stocks, bonds, mutual funds, retirement accounts, cash value of insurance or other).The credit partners, if classified as “seasoned investors” can often participate in up to ten or more transactions per year.