@Bella Gilbert as a beginner foreclosures may be a little tricky to deal with as there are a few more steps than a traditional wholesale (assigning of a purchase agreement) .What worked for me was driving for dollars and specialized tax lien list.

Assuming rents rise over the years and I make continual improvements to the place, I would be set up to transition into the traditional hacking model of renting one unit in whole and occupying the other side myself. 

I'm a full time employee with benefits and a 401K with good credit but I cannot get traditional financing, because I am also a stand up comic.

To clear up the distinction, everything everyone said has been right in their own respective context's however a property going from LLC can go to personal names or intervivos living trusts with conventional financing but yes it cannot go from LLC to LLC using conventional financing and this distinction is where portfolio or commercial financing is needed.As for the up to 6 financed properties for cash out yes freddie mac can do this while fannie is limited up to 4 unless if its delayed financing which has a limit of 6 for freddie and up to 10 for fannie with varying LTV's depending on whether your doing delayed financing or if you're doing a regular purchase/rate and term refinance and depending on how many units you're financing.2-4 units typically have LTV's that are lower by 5% as compared to 1 unit properties on the purchase and rate term refinance with properties 5-10 with fannie, however the other distinction is that with freddie properties 1-6 and even 5-6 dont have that "lower," LTV reduction as with fannie so this can be seen as a niche.to do a traditional cash out with out LTV or value restrictions the property will have to be owned for 6 months.

LOL... who is going to do that.if its the US  that's what the bankruptcy laws are for.Jay, depends on who the lenders are ;-)Agree that posting here was not the best move, but it is out of desperation and the chances of "traditional lenders" seeings this is slim.It's the wild wild west so it's hard to predict how this might end.

In fact, our closings are also Construction Draw #1, and all borrower pre-paid items (architectural, survey, engineering, etc.) are drawn down at this stage and either credited to borrower equity requirements, or paid to the borrower.New Construction/Substantial Rehabilitation Insured Loan Program offers more favorable terms than traditional two-step construction and permanent financing.

You can have faxes sent to more than one email address if you need multiple people to see the incoming faxes.You can fax something to yourself (using a traditional fax machine) if you only need a low quality scan.John Corey

Supposedly, these MAY last many many years over the traditional mechanical adhesion with acid.

For someone with little experience, I'd recommend you try to re-focus your energies on one of the more traditional aspects of investing (just my $.02).Good luck, and I hope that we can help you to find some success in real estate!

Now is this just for HELOC or even traditional Subj2 deals?