I am also in the same situation, but at the beginning of this process.

Be sure to talk with your CPA or other qualified advisor for specifics on your situation.

Hello BP,We recently acquired a condo in  Falls Church,VA area through court house for flipping.The owner/occupant was a old lady did not move out after we purchase the unit.While we are in legal process to get possession, i received a call from the HOA today that the neighbors of this unit observed a foul smell and called the police to see what is going on.we are breaking the lock as soon police arrive and get into the property.The smell could be from the leftover food or could be anything.To prepare for a worst case, i am trying to understand how to deal with the situation and get some affordable master cleaner referrals.Thank you,Vinod.

As I was doing my research there were couple articles as well as posts where it stated that buying a foreclose property for novice is not a good choice since there are many situations such as liens can make your deal go south.

But of course the agent felt the need to manipulate the situation (And I don't do well with people who try to manipulate me) and lie about her status.

At this point, the HELOC isn't urgent, but would be nice to have in case I needed it for a future opportunity.

I figured landlords on Biggerpockets would be most knowledgeable about this situation so I would greatly appreciate any advice on my dilemma/concern.

What do you guys think is the best strategy at this situation?

Generally speaking, cash upfront is a scam used by professional tenants to put landlords into ugly situations.

The lawn got out of control and because the property owner information hadn't been updated in the city's database yet, San Jose sent me a letter after someone complained (forwarded to me by the Post Office).The letter said I had so many days to remedy the situation and the city would send out an inspector to check.