My tenants have to sign the lease and give me the security deposit with 3 days of passing credit and background checks.  

The most common way to reduce closing costs is to have offered $Xk more for the property, and ask the seller for $Xk in seller credits towards closing costs, or just get the seller to pay for certain line items. 

Treat it like a line of credit, the amount will obviously be rising.

We parlayed up until we have a nice, paid for home and now use the line of credit on it to buy flips.

I have excellent credit but no money for a deposit. 

The only credit I gave him is for the floor but I shouldn't have done that.

It really should be recorded but we are a little more loosey goosey with things since it is a line of credit and is paid on direct draws.

@Jay Hinrichs,Brighton Bank will lend to out-of-state investors, but they say everything is contingent on credit quality and debt service capacity.

It has solid cash flow and great tenant currently living there.Can anybody recommend me a bank/credit union/financial institution that can provide me 200K HELOC  (up to 70% LTV)?

Good afternoon everyone, I’ve looked far and wide for guidelines in regards to purchasing a second home, but I cannot for the life of me find the credit score requirement, down-payment, etc for the state of Florida.