We are still doing a ton of fix and flip loans there and the numbers make sense for the banks.

The bank they are using with that offer is now saying my site prep bid came in way too high and not approving me (so far. still in process).

Regarding a HELOC, most banks will only provide a HELOC up to 75-80% of the property value, so you may not be able to access a HELOC for a while.

The seller is open to seller financing, which presents an incredible opportunity to grow without traditional bank financing.

@Daniel Medellin Regarding your question, it would depend on the lender or bank you're working with if you want to go that route in the future. 

Not the nicest areas, but nice enough.. and I would be looking for minimal cashflow, banking on appreciation. 

Personally, and what I would do for my clients, I would connect with a local community banker to discuss the property and see if their bank would entertain this type of financing (not all banks like doing this type of deal).

I think the borrower is better off trying a local bank or broker in that area.

I had a local bank provide a 1031 without fees. 

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