It's also important to note that, even if you hold multiple properties under one LLC, your personal assets are still protected.And I assume you'll carry homeowner's insurance on each property in the name of the LLC as well - which adds another layer of protection.These are just some ideas to think about. 

The other option is to go to a business or community bank for their HELOC's on non owner properties but they usually dont like any foreclosure or BK records.2) this is a personal decision and up to your preferences just, buyer beware and vet our your partner well3) there are many options unless you get a seller who is willing to carry paper, commit to a land contract, lease option, or other form of contract for deed or take back a note for their title interests to control the property with out using an actual traditional or private/hard lending sourcesAs a comment aside, I've funded conventional financing deals if the foreclose was documented to be within/included inside the CH7 BK discharge papers.

Dante, what the seller means is that with 25% down, they will carry a 5-year, 6% loan and YOU get to negotiate the number of years the loan will amortize, and that doesn't have to be 5 years, just because the note matures in 5 years.  

If you try to chase that extra money, you will likely greatly increase your carrying costs.

I'm hoping to convince her to owner finance it for awhile or do a carry back.

Do you have strong enough secondary source of income to not only carry your personal obligations but also have enough earnings left over to prop up the project if needed?

Whats left after carrying your debt?

It is considered higher risk so it carries a higher rate.  

Even though the split is 95/5, that's quite a hefty load to carry for the first few months as I get things ramped up.

Closing cost est.  2KNet profit (minimal carry costs - paid cash)      aprox  59KI think I'll start paying more attention to online auctions...