The Financial reits are immune to the crashing commodity prices we are seeing today, mortgages are secured and much healthier today due to rising property values than they were during our last mortgage melt down 8 years ago.

High interest rates secured by real estate make a great, safe high ROI.

I look forward to the near future being able to buy my first rental property with confidence and growing my personal finances while building security for my family. 

Does taking a HELOC cause any headaches for securing an additional loan from a bank on the balance? 

Two days additional rent: $80 Total charges: $665Tenant paid a $600 security deposit.

The bank will roll in owner financed portion after 3 years which at that time I will have secured approximately 15% of the value of the property paying down principle and will then hold legal title.

At the same time these amazing officers and sergeants that can lead a group succesfull into battle are the ones that let people move into houses without giving security deposits etc.

I don't know squat about NY RE, but it sounds like these sellers are trying to exclude folks using HML, and look for only a) All cash buyers or b) HELOC buyers.If you want to play in this arena, and that is what is going down, I'd suggest opening a HELOC on some other property you own with the highest maximum credit line that your equity position will allow but a $0 current balance.Offer accepted, max out the HELOC, funds arrive next day, show proof to seller.Then you would use the HML to pay off the HELOC a few weeks later, if you'd prefer that the debt be secured by the subject property.

@Daniel Moctezuma I totally can relate to be scared about quitting the security of a long term full time job. 

I look forward to becoming an active participant on BiggerPockets and learning every day, making new friends, and building a portfolio of RE investments that will bring cash flow and more security for myself and my daughter in the future.