How else have you all used HELOC loans?

Nighttime security guard at a large complex in a Class B area.

The cost to evict, in terms of lost rent, vacancy, turnover costs, plus the work involved to secure a new tenant who ON AVERAGE will be WORSE than the one you would be evicting sounds counter-productive.

I was preapproved for the dscr loan and have the 25% down payment and was planning on buying a 6 unit apartment that a realtor had shown me but another buyer bought it first before I completed my process so now I am looking for another multi unit property. 

I've heard too many horror stories about people that pay cash for a property because they think they are getting a deal.A moron of an owner could see they could get a much higher price if they just put in the exit signs (etc) and then sold to someone with a bank loan. 

Some want it paid to you, some want it paid to them, some to constable, some to sheriff, some to the law firm, some to the appraisal district.Payment normally due same day...so nearly impossible to get loans for these.

When you become an agent or loan officer, it's like starting your own business.

Put together a team with a real estate person, someone to look after your property, loan officers, builders, and bookkeepers.

If you have a loan, you may wish to look into due-on-transfer clauses.

Lucy,It does look like you are referring to the minimum interest, or prepayment penalty, of your existing lender as well as the 'seasoning' period of any potential new lender.Most HMLs won't have a prepayment penalty on a rehab-bridge loan, but a lot of long term refinance lenders would require a period of time after you purchase it before they would take the new 'after repair value' (or, seasoning).