Pick up the phone, call them, ask to speak to their loans department and ask them what their appetite is for doing HELOC's on non-owner occupied small multifamily.

"There is a 10 foot hole in the living room floor leading to the basement" and we want to play with the price, gets a completely different reaction from most sellers than "There is a broken rafter in the NorthSide of the attic".

Pick up the phone, call them, ask to speak to their loans department and ask them what their appetite is for doing HELOC's on non-owner occupied small multifamily. 

Is it better to go direct mail or phone call? 

This was in spite of the fact that we had verbal confirmation on the phone the day before that they would be there.

Always try to get an experienced person on the phone so they will know all the nuances of their programs.

Hey Ana,I just got off the phone with a friend of mine who owns his own mortgage company.

There is a good spreadsheet that Fortune Builders uses and I know that there are calculators online for that approach but I am not sure why converting more than 1 mortgage is advisable.This probably is better discussed in a phone conversation.

Back to the phones!

The only thing is  if we installed washers/dryers, tenants would have access to a rear alleyway as well as the electrical panels, fuse boxes, main panel, water heater, and phone connections.