What tips do you have about doing this effectively?

Look at his loan application for the note, look at his credit report from the time the note was created and a current credit report.  

That isn't quite a large line of credit for rapid acquisitions, but on the conventional side, LOCs are usually in the $1mm+ range.

Hello BP community new investor who is interested in finding a multi family in Easton if you are an investor friendly real estate agent or investors I am interested in speaking with you in terms of your experience and knowledge of this area and any advice in investing in Easton in terms of area, type of multi families, great community banks or credit to get financing etc.

One tip, the more documentation you have the easier it is to get it to the bank if they need it.

- the listing agent has an even bigger commission in the deal if there is no buyer agent, so they may work extra hard to upsell the deal to you to make the deal work - a takeaway may backfire, for example, 6% commission and you ask the seller to now work for 3% and credit the sales price, will they truly represent your best interests? 

And a ton of money sometimes when we are careful.Stick to your lease agreement, get the Security Deposit, get co-signers if need be, and always run a credit check.  

My possible strategies:1)  Take out a home equity line of credit on the condo.

My most recent credit score is fair-good and by my calculations, I will have $10K saved by the time that I am ready to purchase the property and move in, but that's my only liquid capital ($10k). 

The franchise owner has a strong credit history has over 20+ stores and the sales of this location appear to be strong.