We have a summer rental and are unsure if we will be able to collect rent To cover our expenses. Can we apply for the EIDL at this point?

My wife works at UNC so I’m pretty familiar with that neck of the woods.

I now go and find a tenant and then refi in  6-12months depending on the seasoning period.

It’s been challenging when my kids want to help hold the wood while I use the saw.

Each property was purchased at a discount, I helped (or am still helping) them line up funding that allowed them to take cash out of the refinance without needing to wait the 6-12 month seasoning period.

Then after 6-12 months(seasoning) get the HELOC and also have the availability to use FHA again on new purchase with low down payment.Does this sounds like a more financially educated move or Should I get the Heloc now for potentially deals?

@Joe Wood different states have different requirements.

CJ its the fact I have the old renters living there .I don't want to risk exposing them .I have pictures on file its a Ato B area should rent quick knock on wood .

Unless you are a cash buyer, the mortgage pre-approval letter is your Proof of Funds.Multi-families are relatively rare in our neck of the woods in Northwest Jersey. 

And for anyone wondering, I have a union job in NY doing highway construction right now that’s only in season 5 months a year, I still get compensated when I’m off.