I highly recommend seeking the help of a buyer's agent who can: 1. find out any information on the property on your behalf 2.

Great to have you with us, Layth!

just looking for best way to leverage for new house HELOC (10 years interest only payments) or a new mortgage on current rental- house smaller worth about 66% of house I looking at and don't want to sell current rental as tenant has been great and older house is situation in middle of 6 lots tear down and put up 3 houses eventually 

I think we can all agree millennials who live with their parents to save up for their financial future is a great idea.

You only need a place to track tenant information, payment history, maintenance, etc.

I'd like to free up some cash so that I'm ready to close on the next great real estate deal that I track down. 

Your plan to either rent or flip the property depending on the market is flexible, which is great.

During the housing boom, it was the complete opposite—they even dropped realtor commissions to 2% and made buyers pay most of their closing costs.It sounds like a great time to buy. 

You should have an understanding of what the per door expense is in the market, and then take into consideration the age/condition of the property.If you don't know what to reserve, have a few conversations with property managers in the market and talk to community banks who lend on the asset and ask themGino Great Advice! 

I truthfully don't see a great deal of negotiation leverage as this building is the norm  rather than an outlier fact pattern.