A HELOC resembles a second mortgage (if you have a current mortgage on your property) but functions like a credit card.

They will reject a loan for a little bit of peeling paint, a cracked window, uneven sidewalks, wobbly hand rails - and that list goes on and on.In a conventional loan they typically only want to be sure that the major systems are functional. 

I was told the system is in good condition and functioning properly.

However, I’m disappointed  that they have not created an app that has good functionality for forums and all the tools.  

In reality the home functions as a single family however for building code, reducing the three family into two would put me in the local building codes and out of the strict state codes. 

@Nicholas L. haven’t been inside the property yet but the units at least appear to be in functional condition.

The Price-to-Rent ratio in the city of Baltimore-Maryland is 13,69. With that number in mind, I am wondering if it will be feasible to do the following.1.  Buy a house for $400.000 near a university. I have seen some ...

This will lengthen the time needed to get the full picture and is a choice I would not recommend or follow myself.No matter what you choose to do, learn the language, the metrics and how they function and get your hands on or build a ground up pro forma.I will be happy to send you some snap shots of the kind of tool you need if you like.Just let me know how to get it to you and if you want or need any help with understanding it.Wishing you the best on your journey.

Aloha,I always recommend to clients that want to "help" their (generally full functioning) adult children or other family members, or even just friends...DON'T RENT TO THEM.

Most of the time, when I go into the homes for some reason - inspection, repair, whatever - they are either using the dining room as some other function - office, playroom, one guy had his pool table there - or there's a table so stacked with junk that no one could eat there anyway.