The only reason to take out the 2nd HELOC and replace the 1st one is because in theory, you increased your value and you want the larger HELOC to coincide with that increased value?

Would there be a reason a lender would not refinance within a few days/ weeks? 

The reason I think it’s a deal is because I have been able to get to him to agree to seller finance 1,400,000 for 3 months.

RANDOM TIDBITS:-My family is my reason.

What is the reason for this 6 month wait?

There are stated income products with reasonable rates that do not require Tax Returns to be submitted they are more so based on the property and credit score

Typically, the same applies to LLCs where you and your spouse are sole members.Actual Lenders Title Insurance states;CONTINUATION OF INSURANCEThe coverage of this policy shall continue in force as of Date of Policy in favor of an Insured after acquisition of the Title by an Insured or after conveyance by an Insured, but only so long as the Insured retains an estate or interest in the Land, or holds an obligation secured by a purchase money Mortgage given by a purchaser from the Insured, or only so long as the Insured shall have liability by reason of warranties in any transfer or conveyance of the Title.

I don't see any reason to go out of state, when you can get a decent cash flowing property in-state.Thanks for sharing!!

I don’t really believe this agent for some reason.

I’m looking for a couple other companies who find, rehab and then do the property management for 2 reasons. 1.