Although no renovations were necessary, our team’s ability to quickly assess the property’s value and potential for immediate resale was key.

No part of the security deposit should be refunded until the tenant moves out.

Unfortunately there is no magic template that works everywhere and we often let the market drive choices as that is what will put $$ back in our pocket.

From a negotiating standpoint, you could use the heloc to make a "cash offer" with no financing contingency and still get a mortgage during the process as long as your closing timeline provides the time to do this.

DSCR requires No income, No Taxes and Commercial requires a PFS, occupancy ratios usually above (90%), Credit scores above 720+ much higher assets for (PITI reserves and overall risk, landlord seasoning, and more.A Heloc can be used in most cases for anything but when you are trying to buy a commercial building which is higher risk, the committee/UW can and in most cases will deny it if they feel you are over extended low assets or with no landlord experience, unless you have a meaty amount of equity to cross collateralize for a junior lien on another property.

Second, be patient and start slow in areas that you know-no out-of-state investing.

No way around it.

There certainly is a "no fly zone" for purchasing, and criteria that should be followed for a sound investment opportunity.

Sharing a bathroom with 2 other strangers is usually a no-go.

Friend advised I could check to see if the leases have a cancellation clause upon sale that can be triggered, but no luck