We have a property in Memphis that is generating $7,000 dollars a year in net cash-flow (property is 100k).We want to buy another 3 properties free and clear BEFORE we refinance them, to group them together and LLC them.However, we want to know IF we can get a HELOC loan first from this property (or others in the future) BEFORE asking to refinance them?

I’m trying to stay a bit conservative with my future predictions for this particular area.

On the future rental of this property, my question is based on the ease of renting the property. 

I am wanting to purchase a multifamily property in the near future.

Are you confident that they have processes in place to prevent future mistakes?

If you could help me with that and let me do my research I'd love to use you as  my realtor for my first purchase" I'm sure they will be more than happy to have a future prospect in you.

yes it is unconventional but because of the seller status and the fact that he's selling three at once I really needed to know that I had a buyer in place. the seller would be a great contact for the future and the spire is someone that I've spent a lot of time talking to and seems very genuine.

It's not in too bad shape, but was a smoker's house and hasn't had any cleaning done in years.Based on a quick walk-through I'm looking at internal painting, minimal external painting, carpet replaced (or removed to get to the hardwood floors where possible), a bunch of minor repairs to things like gutters/eaves/etc.In a perfect world, this relationship would continue to care for the property as issues occur in the future.

Someone with expertise should be able to quote a flat rate for the entire project and for each stage of the project.I would expect a lawyer to charge more if getting paid depends on future events, because that means more risk for the lawyer.

Louis, MO but now about to start my endeavors in real estate investing as well.