Another con is that most HELOCs will have a variable interest rate so make sure that whatever you buy (if it is a buy and hold) can still cashflow at higher interest rates or make sure you can refinance and get your money out and pay off the HELOC for that property.For pros, the ability to continually use the funds over and over if you so choose makes it a great benefit to use as down payments and even for rehabs as well. 

For me it’s two things - CAP rate at purchase needs to be at least 6% with the ability to increase to 7 or 8 and the cash flow of the property needs to be at least $500 dollars above the PIT.

I have only exchanged a few emails with them so far, so I can't vouch for their ability, but I found: http://thetaxhandlers.com/index.php in Sarasota.

I am not an expert as it relates to FHA/Conventional dis-qualifiers, however, generally speaking if a foundation sound in nature they typically will be deemed unsafe as they are concerned with its ability to not bear a load as it once could have.  

I would love to meet and network with the other RE investors in the community, and I would love to be able to contribute to the best of my ability.

We had gone in with a fully underwritten loan commitment, which added a lot more weight to our offer, and the fact that Ive closed plenty of deals with this lender and could attest to their ability actually landed us the property over another potential buyer who offered a higher price with a contingency to sell their previous property.  

Little Village (near Lagunitas at 2607 W. 17th St), Bridegeport (Halsted and 35th near Nana) McKinnley Park, Bronzeville, Brighton Park and Gage Park are all communities that may be more attractive to Gen Y (until they have children) gentrifiers because of low cost of rents and the ability to purchase property and pay off student loan debt at the same time. 

I'm sure it will change over time, but good start.Regarding the loans, you actually have the ability to get more than four loans.  

BP offers free online educational videos along with it's free forums and the ability to connect with other real estate investors.

From the informative forums, free online educational videos and courses, and the ability to network with other real estate investors, the possibilities are endless!