not a great deal compared to buying 5 year term first trust deeps on performing rentals that pay 9 and 10% and you get paid off in 6 months then what .. no return.. until you find another deal so your drag on money turns your return much lower.. now if it was 10% or 7k over 6 months that would be something to think about.. but not an interest rate for such a short duration.

This way you get the benefit of the cashflow when you're not using the line and when you do use it you know that it's for a short period of time to help you acquire another property before doing the same thing with that one. 

Hard money or other short term, high cost debt? 

The risks are these are usually expensive, and short term (12 months or less). 

If any one can help or knows someone who can do a little hand holding for a short time, let me know. 

Shoulder buyers are those that are close to qualifying but come up a little short on down payment or credit.

Anyways, short-story-long, I am pretty obsessed with real estate in general and look forward to absorbing as much as possible.

If you could live in one unit (use an FHA loan to only have to put 3% down) you could manage the other units as short term rentals (STR).

Also I believe legally in L.A you can only rent out the house a certain number of days since city has been restricting short term rentals .Guess I’ll be interesting to see if the house sells for more than the comps in the area .I live in L.A and it doesn’t seem like celebrity owned homes necessarily sell for more but I don’t know if this is different .

It will make some difference as to whether you will be dealing with an escrow company, title company or law office for your closing.You are attempting a short-sale on a pre-foreclosure property, correct?