., $54,167/unit)After Repair Value: $162,500Purchase Costs: $4,875Rehab Costs: $5,500Down Payment: $40,625Total Cash Needed: $51,000** Financing (Purchase) **Loan Type: AmortizingLoan Amount: $121,875Loan to Cost (LTC): 75%Loan to Value (LTV): 75%Loan Term: 30 YearsInterest Rate: 3.8%Monthly Payment: $568** Cash Flow (Monthly) **Rent: $2,550Vacancy: -$255 (10%)Expenses: -$1,157 (50.4%)NOI: $1,138 ($379/unit)Loan Payments: -$568Cash Flow: $570 ($190/unit)** Returns & Ratios (Year 1) **Cap Rate (Purchase Price): 8.4%Cap Rate (Market Value): 8.4%Cash on Cash Return: 13.4%Return on Equity: 14.3%Return on Investment: -12.7%Internal Rate of Return: -12.7%Rent to Value: 1.6%Gross Rent Multiplier: 5.31Equity Multiple: 0.87Break Even Ratio: 67.6%Debt Coverage Ratio: 2Debt Yield: 11.2%The only thing that worries me is that its an old and dated place. 

The asset must be underwritten to agency standards but there are levers that can be pulled to lower expenses and boost NOI to stretch proceeds.

We are undertaking a standard foreclosure process and will see what happens.

No need to reinvent the wheel, your city has a standard process you just need to be aware and follow it.

If you can get away with standard sizes, Surplus Warehouse has great pricing. 

And because as long as "Intent" is the standard there can be no prescriptive period established.  

because they are held too much higher standards and code of ethics than any wholesaler.

My job for this investor (who is an agent and interior designer) was serving as an analyst, constructing proformas, consulting on my opinion on macroeconomic markets and outlooks for real estate, consulting on microfinancial decisions (I am an Economics major with a specialization in International Macro-Finance & Econometrics), and managing day to day duties of rehabs on site.

Or is Zillow the gold standard.

So assuming you are moving to a standard rate and term (NON cash out) loan, and have the HELOC paid off in advance of the refi, you would then have zero home equity products and would not have "closed" on a home equity product within the last year (assuming your HELOC is more than on year old).