With zero down they have no skin in the game so they can walk away, lose nothing, and leave you holding the bag.

That's the beauty of a HeLoc.

The beauty of working with small portfolio lenders that do blanket loans is they can modify them as need be in the event of a partial sale.

We just closed on our second duplex!  I wanted to wait a little longer to build up our cash reserves a little bit but this deal popped up: duplex built in 1978, 2 beds/1bath each side, fully rented, 5 minutes from our...

But alas, I had not yet learned from the BP masters before getting in contract and performing due-diligence, so these are not 2%-rule beauties, especially considering the rehab costs. 

It looks beautiful but I don't know that it's 35k a month beautiful.

(Although it's a beautiful area.)  

Not beautiful but not bad either.

The remainder of the land is on a bluff with beautiful views and would make a great home site.  

So his repairs consisted of tearing out a nice granite topped double vanity and replacing it with about the cheapest smallest piece of particle board + formica topped used POS they could find.Note that we had JUST taken possession of the property and moved in, and the beautiful guest bathroom was one of the selling points.