Los Angeles is a unique, dynamic, and expensive market.

Any issues or unique protections that I might think about using to ensure my position in the deal?

When you get the HELOC, you can use it like a credit card which you can purchase stuff with it and you have to pay it off.There's two periods: draw period and repayment period.

I only have a little more than 80k in there but the repayment interest would only be .625%.

If they are real net losses as @Wayne Brooks says then yes, it lowers your income and ability to repay.

You have to wait three to five years like many of them to sell or do a cash out refinance without having to repay back the DPA portion. 

If you have student loans, are they on an income-based repayment plan?

Check with a local credit union.Connect with a Mortgage BankerLastly connect with a Mortgage BrokerPortfolio lenders keep the loans given out so they tend to have unique programs and access to an underwriter.Mortgage bankers do traditional loans that anyone can access but mortgage bankers have access to an in house underwriter since they sell the loan after.Mortgage brokers simply broker the loan so their company never becomes the owner.

Due to Covid19 I found myself in March 2020 in a unique situation that suddenly there was a lot of time, which I decided to spend on getting more familiar with the US Real Estate market.This is how I found the BiggerPockets podcasts and I have been listening to that every day to till today - Great source of information and great to get in touch.Looking forward to read your posts and meet hopefully soon at one of the events (when flying is possible again).Best regards,Bert Knot

Our realtor says it’s unique and comps are hard to find, but she thinks it’s a crazy market right now and this property is actually worth $330-$360k.What do you guys think?