Is it advisable to refi with cash out or line if credit to buy another house?

For example: Do you fancy your credit being ruined, if/when you default?

Banks/credit unions/“portfolio lenders” will usually require loan applications, financial history docs, other various paperwork before being approved and most take a bit longer to close.

They are in their 60's with no pensions, retirement plans, or property.I'm planning on helping them to purchase a home soon, possibly using my credit to do so unless we can find an owner finance or similar situation.My question is this: is there a way I could use my credit to help them buy a home while preserving my buying power for future deals that I want to do on my own?

I will be doing flips and have my credit line approved.

You should speak to the commercial loan departments at the banks and/or credit unions.

Establish credit if you haven't alreadyStep 3.

Issue is my credit is damaged working on repairing it.

Theres a home equity line of credit and a home equity loan.

Let's say you did a Credit Check which was not good, but the tenant claims it's from an event like a divorce or student loans or a hack.The next thing I do is an Eviction and Criminal Background check and a Bank Statement Check to make sure that the prospective tenant is not pulling the wool over my eyes.Imagine that the prospective tenant has a rap sheet pages long and you decided that he looked honest enough and let him in.There are so many horror stories of bad tenants and yet I see posting from new Landlords all the time skipping a FULL due diligence Again and Again!