Hello again BP membersI have recently discovered how to pick up not so bad REO SFR’s to flip and rent out (or flip and sale .. not my thing though) with basically using the brrrr methodMy question is more of which is better scenario to be inif to pay down my primary residence and then have (easy numbers) 100k available in HELOC moneyOr have 100k cash money laying thereAnd then after having such funds available (easy theoretical numbers)Go out and Find a REO SFR for 50k Needs 25k in repairsAppraises and ARV comes back at 100kAnd will rent out for 1400-1200 a monthCash out finance 75k (75% LTV)Pay back your self or helocAnd repeat process overNow my immediate goal is to reach 15k PASSIVE income but i want opinions on how to get there faster and with this idea i have seen a few examples of in older threads but not alotThanks in advance!

You still run credit/criminal, check references, verify income, etc.

FYI it's generally going to have to be "dumb person and toddler" proof to close on the purchase ("dump person and toddler" proof is an easy rule of thumb for when an appraiser is required to call something out as a "health and safety" hazard), assuming you are getting a normal mortgage.

Someone referred him a few weeks ago for me and he is working diligently to get me some solid rates.

But what @Alina Trigub was referring to was a specific process called a reverse exchange. 

I'm sure they will accept your financials if you do them on excel and not QuickBooks or equivalent, but I recommend making it look very nice and easy to read.

Account Closed Permitting is the easy part if the designer does a good job designing, labeling, and filling out the correct forms, you will be out in 1 month.

The lease agreement would not reference the estate planning docs at all to avoid any reclassification as a purchase.Option 2 - purchase, he holds mortgage.Is it possible/legal to have a mortgage where 100% or nearly 100% of payments go to principal?

I found a GC contractor reference for a flip I have in works who is reasonably priced.

TransUnion’s SmartMove is fantastic...I just screened a couple that wanted to rent one of our units and it was super easy.