The going rate in the Austin metro is 1 month's rent as a fee.

Interest rates on HELOCs are typically more than a mortgage, but if you think about the blended interest rate, you are likely paying less for HELOC + old mortgage than you would for a new mortgage.

Msg me if you have questions.No syndications right now.Keep in mind, when lending, that not all of your money will be earning interest all the time so your actual rate of return will vary. 

That, coupled with interest rates being so high, make it hard to find a house that will cashflow right off the bat.

He would charge a double digit interest rate.

finding properties on Zillow that you never see in person, putting 25% down and hoping people you've never met handle everything for you... not a great plan.and yes, you will need a long time horizon for a portfolio to actually generate cash flow buying at todays prices and rates - 10+ years. 

We are very interested, but what is a fair rate?

And any short sale offer will have to be close to market value.Years ago, after the great settlement agreement with the big 5 banks, those banks were making mass offers of discounted pay offs on seconds.

It will, depending on the financing, rents are strong in that area.Let's say you take a mortgage of 600k (75% of your ARV) Taxes - 5k Annually Insurance 2k Annually Rate - 7.5% 30 Year Fixed Your PITI payment would be $4,778.62If the lender is using a DSCR of 1.1 - you would need actual / market rent of $5,256.48 to qualify for a 75% LTV loan. 

If you don't have a low rate locked in, you could do a cash-out refinance as well that goes up to 80% LTV. 2.