I’ve flipped in the dc area for years, right now there is just money & in the vast majority of cases there is high likelihood of losing money, right now the best investments in the area imo are buy & hold, I’ve even gone full circle and while I really liked value add for most of the last decade I think in a lot of ways new construction especially in more affordable markets (I’m personally a big fan of the eastern shore market) is a much better way to make money long term than flipping and brrring while I know they are sexy & certainly you getting a huge paycheck is great, there just isn’t any money in it right now, especially in nova. 

.- you can use any part of the HELOC  you want to ...make sure the lender you are  using for the new loan will be able to  qualify you with the  HELOC  funds  being used  (  some  lenders will  use the  actual payment on the  outstanding  balance and  other lenders  might use a percentage off the entire HELOC max limit )

@Zach Bosson does this option also apply if the property was purchased using funds from a private lender? 

They then sold that and bought a 250 unit in OKC all C and D class and had to move there as they almost lost  it in foreclosure.. took 5 years of them living there and managing it personally to stablize and finally sell.. then bought a 20 uniit back in Oregon where it all started.. this over the course of a few decades.

@Corben BriggsYour attorney would be by far the best person to get this document from as they will know the property, what it needs to say and state laws surrounding it

I am trying to raise the 10% down and bring in a partner or GAP loan person.

I didn't want to put my personal information on here.

I know of one person in Oregon doing it, but he doesn’t want to share how it’s done.

Personally I’ve stuck with SFH to avoid tenant on tenant conflict but thsi will let you find out if “the juice is worth the squeeze: with very little risk. 1) I assume you’re getting a least a few percent off for not involving a realtor.2) I assume you feel confident with the value (maybe ask a local banker what they would lend you on the property and even lay for an appraisal.)3) this is all assuming that this is a small investment to you as I’ve described above, not most of your savings and all of your operating cushion. 

- After investing in your local market (if possible, even if you need to partner to fund the deal), you can search "agent recommendation in [CITY]" in the Bigger Pockets forums to see which agent other investors love working with or use the Bigger Pockets Agent Search.- You can ask your local investor agent to recommend a investor agent in the out-of-state market you're interested in too.