I have also acquired them over the past 12 months and they are both traditionally mortgaged. 

The traditional means of valuing financial instruments (re, stocks, bonds, etc) have been abandoned and we have long been in a rigged game (for about 100 years but especially since 2008).

One might have to use a non traditional method, future redev, add rooms, vacation rental or half way house type deal to obtain.

In my opinion, I would avoid the FHA loan and get a traditional 30-yr fix loan at 5% down.

Did you use traditional financing or a HML

Hi Shalabh,I'm currently working with a client who is overseas, and for a few different reasons wasn't able to use a traditional Fannie Mae lender.  

I have basically been given two options to accomplish this, have however much money I need to buy and rehab a property in my checking account or use a HELOC and then refinance with a traditional mortgage to get my initial cash back out of it.

this is a good problem to have, but it's becoming more and more of a headache.With rental applicants I started off doing a traditional online application using a vendor who offered upsells for nationwide background checks and so on.

So obviously this is not a traditional approach to retirement savings but it's certainly a viable alternative.

In addition to traditional options, he suggested taking out a HELOC on our current home as a way to make a cash offer with quick close and then finance with a more traditional mortgage product after the property is secured.