Make sure it's clear you have no intention to buy the property but you are selling contracts as a business and doing this without a real estate license, you're now selling securities without a securities license too.

For your specific question....any mtg in place prior to the mechanics lien being filed most certainly remains attached to the property.

A senior secured loan gives a lender a structural advantage over “mezzanine” or subordinated debt because senior debt is the first to be paid; it has top place in the event of liquidation.

We found a property management company but before signing the contract, noticed that they put "owner to pay $395 to secure lease renewal of current tenant""owner to pay 8% per month but subject to $100 a month minimum payment" of gross revenues DUE (not paid) prior to monthly disbursements""if premises are vacant at any time during this agreement, then owner shall pay manager $100 per month for management of premises including supervision of maintenance"It doesn't seem like these terms fit for managing our simple duplex rental. 

@David HuynhWhat tax return do you file to report income from your properties?

I’m trying to sink my teeth in on my first investment property but had an issue trying to secure a loan on a SMF.

You can pay off the HELOC and owe $0 but it's still considered open until you file to close it with your lender.

If you have fair credit, verifiable rental history and consistent income you can easily secure FHA financing in Houston and the inner city is the ideal place to house hack because of it's proximity to all the cool and trendy places downtown along with the major universities and Med Center.

Without having to file for another loan??

I want to invest in the Chicago market, but it seems so expensive to find a good duplex, triplex, 4plex.Does anyone have any suggestions how to go about securing a good solid first deal?