USDA Loan depending on location, ideally 0% down3.

My appraisal came back low and the loan amount and down payment are now changing because of this.

If they had a bank loan, they let the bank have their house. 

Michael - When you say "loan" - what are you meaning?

HELOC:Pros:Flexible borrowing - borrow as needed giving you flexibilityLower initial costsVariable interest rates - can be a con if rates rise, it can also be beneficial if rates decreaseCons:Variable interest rates - rate can fluctuateMore risk of foreclosure - you're adding a second loan

You should not calculate that in your review honestly.Curious if you have the cash for that debt why not just pay it off as the interest is probably burning a big hole in your pocketTotally get what you're saying and I plan to pay off my CC debt regardless of this deal; however, they are also asking me to pay off a big chunk of my car loan now which is why the number increased after the rate hike. 

Investment Info:Other private money loan investment.

Since you are essentially buying the property 100% financing between your HELOC and financing, make sure you can afford it as if the property goes south, or you have to short sale it, make sure you are in a financial position to be able to still afford those payments on the LOC. 99% sure you will not find a cash flowing property using traditional financing and the HELOC.

Talk to a real estate attorney or financial advisor to find the best way to do this.Good luck!

Let's explore some effective approaches for managing investment properties:With a Property Manager:Screening and Selecting Tenants: Entrust your property manager to handle tenant screening, background checks, and selection, ensuring reliable renters for your investment.Rent Collection: Property managers can ensure timely rent collection and handle any late payments or lease violations professionally.Maintenance and Repairs: Delegate routine maintenance tasks and repairs to your property manager, who can coordinate with contractors and vendors to keep your property in top condition.Tenant Relations: Property managers serve as the primary point of contact for tenants, addressing their concerns and ensuring a positive rental experience.Lease Enforcement and Evictions: Trust your property manager to enforce lease terms and handle the eviction process if necessary, following legal procedures.Financial Management: Property managers can handle financial tasks such as budgeting, accounting, and financial reporting, providing you with regular updates on property performance.Without a Property Manager:Self-Management: Take on the responsibility of managing the property yourself, handling tasks such as advertising vacancies, screening tenants, and collecting rent.Outsourcing Specific Tasks: While not hiring a full-time property manager, consider outsourcing tasks like maintenance and repairs to trusted contractors or service providers.Utilizing Technology: Leverage property management software and online platforms to streamline processes such as rent collection, lease management, and maintenance requests.Establishing Clear Policies: Set clear policies and procedures for tenants regarding rent payments, maintenance requests, and lease terms to minimize conflicts and misunderstandings.Regular Inspections: Conduct regular inspections of the property to identify maintenance issues or lease violations early on and address them promptly.Building Relationships: Maintain open communication and positive relationships with tenants to foster a sense of community and encourage better care of the property.Whether you choose to hire a property manager or manage the property yourself, effective communication, attention to detail, and a proactive approach to property management are key to maximizing returns and maintaining the value of your investment.