If you are in a C to D, or focusing on very low cost product in general, it is always the lower income demographics that are hit hardest with slow downs, and you will have trouble renting/selling. 

However, HELOCs are just a product of the individual lenders that offer them. 

You kept saying "boot" but you have to honor whatever leases were in place if they don't sign up for something else and they are not able to be evicted for now.When I did mine, no one came to validate anything.

Then you will have title insurance costs which are dictated by the state and the value of the property: http://www.alphaadv.net/patitle/parate25.htmlContact your title rep for a current breakdown because I can't validate those costs since it's not my field.You'll also have some certifications as fees at closing depending on the area.  

@Amanda Anderly cash out refi's are great, if you have a way to use that money productively. 

I do like the larger buildings (5+ Units) but local lenders are typically offering 5 year adjustable rate products. 

Valid point, I think it comes down to what your goal/strategy is.

.) - consult your attorney to see if this applies in your case.Unless there's a valid contractual reason for backing out, your deposits are at risk. 

(assuming that I use it regularly, and am aggressively researching various markets) Does paying the fee and including more information significantly effect it's validity? 

I started my investing in Fort Worth and a number of my flips were in older neighborhoods near downtown where I could add a master suite for about $105-$110 a square foot, and have the finished product selling for over $200 a square foot.There seem to be plenty of small 600-800 sq ft bungalow style homes near downtown Raleigh and downtown Durham that would be perfect for this.