This is for small balance commercial retail which might or might not fit on your land.You could have an acre but it is a really weird shape than a standard rectangle or square which can make laying out a site plan that works and is profitable for  a developer difficult.

Not anymore, at least.So, the loans are kept on the balance sheets. they reset them at 5,10,15 year intervals depending on the terms.

(Subtract that from sales price to get loan balance.) • How much are the monthly payment on the mortgage?

Hopefully in 2019 more balance will be restored to market everywhere.

 @Tyler Faison @Mary Mitchell  @Bruce Lynn  @Kyle J.Thank you all for your suggestions, this is elderly  couple I feel I can trust, I liked the idea of not touching the security deposit so I took your advice on that, however I just agreed to half a month rent and balance paid in next three months

For me, there has to be a viable exit strategy to pay off the HELOC in less than 12 months, that frees up my line so I can do another deal and I also don't want to have a large balance on a variable rate indefinitely. 

It always seems so simple to say you want value add properties that cash flow great in tier A neighborhoods, but when push comes to shove your gonna need to find the balance that works for you and will have to sacrifice a few things in any investment ($ entry price, location, needs Reno, or if you overpay to try to get the perfect property then you might sacrifice cash flow and then it might not meet your needs)

I indeed did have a 4.0 GPA yet I am saddened to say that while doing volunteer work on the side and working a full time job to pay for my own tuition, I could not balance all tasks at once.

At least until you are well-healed in the business and have the confidence (and balance sheet) to diversify.

At the refinance closing a check would be issued to your heloc to pay down the outstanding balance of your HELOC.