@Mike D'Arrigo and Lake City Bank

Purchase price( when it was purchased) RehabARV Rate Also, if refi is out of the question, I would recommend a line of credit with bank. 

Step 0 go to the bank and get pre-qualified for a commercial loan- see how much you can buy. 

Their default procedure is to wire transfer funds but since my bank, Wells Fargo, charges $15 to receive wires, I asked if they can send me a cheque image instead so I can mobile-deposit it.

Banks probably won't talk to you without experience.

My buyer had a preapproval from a bank that is notoriously slow, and seller wouldn’t accept an offer from anyone using them. 

We're using Primary Bank for the lending process.

A good amount of banks I spoke to only were interested in HELOCs on primary residences.IAny suggestions would be appreciated.

So I'm a beginner in the real estate business and i read the book and feel i want to take the REO or foreclosure route. So with that being said how does the REO process work once you find a property that you are inter...

Check the local banks and credit unions. 25 year amortization is more typical for a loan that size so I would make sure 30 yr am is accurate.