The bank will want their $4M back and the seller will try to minimize their own losses... 

A bit more money upfront, but this will minimize your monthly expenses.

However, I think it helps bring in quality tenants and minimizes turnover.

In Summary:-The Easiest Route (minimal effort required on your end) is to go with a syndicate fund.

As an operator you might choose to optimize for getting the max market rent (thus minimizing LtL) but that could result in it taking longer for you to fill a unit (thus increasing physical vacancy).

The people making requests all have: - NO profile pics- ALL are local from Philly- ALL profiles are minimally verified - All requests are for ~2 days on random dates this and next month- Almost no one has any reviews- No request really has a solid/detailed message stating their purpose for booking It almost feels like they are fake accounts compared to all the successful bookings I've had the entire time before the lock-down.

Been able to leave a W-2 job of 8+ years (1 yr ago), traveled to over 9 countries with the wife & kids since then, while generating EXCEPTIONAL returns on my investments with MINIMAL effort!

The closing costs of the HELOC will be very minimal.

From what I have seen the state and federal govt is doing everything in their power to minimize this number.

@Timothy VigneaultTypically with house hacking the goal is to secure residential FHA financing on the property so that you are "in" the property for a minimal down payment.