I thought that loan was based solely on the property that you're purchasing. 

My current primary was purchased in 2018 with a conventional loan.

Purchase price: $635,000 Cash invested: $200,000 Built in 1880 as a single-family address, this rare three-story grand brownstone designed by Ogden and Wright was purchased by myself and investors for conversion to a boutique hotel.

Recently several of my investor clients have leveraged equity in their primary or investment properties as down payments for purchase acquisitions by obtaining a HELOC or fixed rate second mortgage. 

Purchase price: $180,000 Cash invested: $120,000 Our first BRRRR was a quadplex outside of Atlanta.

I would add that in your purchase and sale agreement, have your agent add a clause that allows you to review the leases and the agreement is contingent on your satisfaction with the leases.

Would appreciate any connections/ advice for an out-of-state investor.thanks Hi Sid, I used Grant Linhart as my realtor for my most recent purchase in Birmingham.

In the past, I've done some out of state purchases [Memphis/Little Rock] through turnkey companies.

My goal is to purchase a second home / rental . 

Just do Delayed Financing on the purchase.