They are a big operation, but seem reasonable.

I wouldn't worry about artificial goals set by the internet, just focus on what reasonable for you. 

Unless there's compelling reason otherwise, I hire the agent to sell the property.

@Holly Bixler , it depends what state you're in but most states require a landlord to give their tenants a reasonable (days wise) Notice to Cure. 

The only reason I've been able to purchase 3 houses this year is by showing POF and closing quickly.  

I just can't think of a good reason to do this. 

Additional costs such as closing costs (investment property and home equity loan, vacancy in the beginning, repairs)My main question is: Is a home equity loan a reasonable way to generate money for your first deal? 

Nobody will accept an offer if they don't know whether you can actually buy it.That's especially important around here because anything that's a reasonable deal will go under contract very quickly. 

We will need some $ from equity to close on next home.For whatever reason, market for home sales are soft in our neighborhood, but rent is pretty firm.

He is really a nice guy and I don't think he would rip me off, and if he did, well, that would just be the last deal we did together.Does this sound fair and reasonable?