4.What is the minimum years of the lease contract for this price?

4.What is the minimum years of the lease contract for this price?

For investors equity has a opportunity value of minimum 10%.

Are there any banks out there that will let me show a new lease agreement and one month's payment so that I can use this rental income to get the HELOC?

Are there any banks out there that will let me show a new lease agreement and one month's payment so that I can use this rental income to get the HELOC?

@Aundrea NewbernIllinois does have a reciprocity agreement in place with Georgia and 8 other states.In the other direction, Georgia has it with all other states except Florida.

I would say that 0% OO is far below the 50% OO minimum, so your (or your buyer's) chance of financing via a Fannie Mae loan is 0%.

With the right documentation/agreement I assume I would be able to lock it down even though when it comes time to execute on the option that strike price agreed upon upfront will be 50 or 60% of the actual re-positioned value.  

You must find the highest paying job you can secure and expect to be there a minimum 10 years if not till retirement.

If your PM is not licensed and/ or using this agreement that might be a larger concern.