@Aditya MainiI think a mortgage bank would be your partner in the deal and underwrite it independently.

@Shasky CharlesBlue ocean opportunities in commercial real estate by Cherif Medawar This is an amazing book that is available on Amazon for $2.99 Cherif Medawar is an experienced investor, teacher and a real estate fund manager so he has a lot of experience and his book details some great strategies and concepts - I could not put it down and have recommended to many people who enjoyed it and used its business models

Otherwise, it's a super deep discount to what the bank will actually want to sell the house at.

Additionally, this would give you experience in property management, however, a bank might not like the fact that you want to use a loan product (HELOC) to open up another loan product (mortgage).

So by going this route we'd have to pay approx $150 more each month on our mortgage, but we'd be cutting out the wasteful PMI and have $25K in the bank to put towards an investment.

It does appear on my bank statements.

It does appear on my bank statements.

I cant imagine any bank would lend to a brand new LLC and give a non-recourse loan.

If you can qualify for a $70,000 property, for example, then you know what price property to look for.And, once you're able to qualify, most banks will loan for multiple properties over time.

Better to build your own equity through the debt pay down, enjoy the tax benefits of ownership, and garner the equity of an appreciating asset.