Without going too far into the math; if you assume the rate at which you demand growth in your own money is equal to the interest rate the bank is charging you then the value of he gross money you pay out to the bank into the future is exactly the same as the present value they are loaning you.2) What is really important to investors is their cash on cash return.

I have 500k policies for my units (required in order to have my umbrella policy), but I also have an umbrella policy equal to the value of my personal assets/ net worth so I'm protected in case 500k isnt enough. however slim of getting sued for over 500k, if they do and win, it will protect them from taking away your other assets like your house and bank account balances etc. get an umbrella policy in consultation with your agent.

When assessing a property for a HELOC the banks will not likely attribute full market value to the property and will only allow up to probably 80% of their assessed value as a HELOC.

Banks may do it if you have a relationship with them. 3) What tax consequences are you worried about?

You should educate yourself on hoe financing for multifamily works so you don't walk in the bank with one hand tied behind you bank.

It was a bank owned property that needed some work.

@Daniel Banks  Tell her you will give her DOUBLE the price she is asking if she will give you owner financing on your terms - $10 a month for 120,000 months. 

I would pay him back at a higher interest rate than he pays the bank, but at a far lower rate then any hard money lender would lend to me.

TD Bank might be a good option.

You can start with your own bank where you do banking.