Civil Engineer by day, FIRE (financial independence retire early) seeker by night. 9 month reader and first time poster. 

Very good resources, and invaluable for a newbie in the game. 

You have to have the financials to qualify for one.....probably the ability to show your liquid assets of twice the amount you're looking for.

If you look at this first property as a buy-and-hold, you will have cash advanced on the line of credit that won’t be completely paid back to $0 and you will have your own cash in the property for improvements that you won’t get back out until you sell the property.2.)I’m going to throw out some possible terms, though I want you to know that everything is subject to final credit approval.Option 1) If you are wanting a line of credit secured with the autos, we will need to establish a financial covenant something to the effect of the line will need to rest at $0 for at a minimum of 10 consecutive days.

There's tons of resources here.

I am sure you will find tons of information here and great resources and people to network with.

Example, we bought a hotel that had a cap rate of 4% based on their financials .

What are the financial terms?

Look at the deal - it either makes financial sense - or it doesn't! 

In the meantime, the owner is too far underwater (or dead) to do anything with the property.Rarely do owners who are financially sound just let a property sit in disrepair.