In my opinion they are one of the only sources of "borrowed" funds that a bank will allow on a mortgage application without having to jump through lots of hoops.

Im seeing very little in the way of cash flow properties but wanted to seewhat you all though about my inputs.Im making a few assumptions mainly looking at multifamily up to 4 units with 10% down (I know this is low but I've found banks that'll do that in my market for properties under 500k) then I account for maintenance/debt servicing from past experience (wondering if people have a better way that would take into account property age and condition for maintenance estimates), finally I set vacancy at 1 month a year (not sure if that is reasonable either). 

I live there and i would like to get a HELOC at 90% LTV to put the money towards a new investment.Anyone have any recommendations for banks I could use? 

We are super responsible when it comes to finances and watch all bank accounts closely. 

Have a local bank providing the loan, have my son moving into the lower level so I got an FHA 3.5% loan and the property is valued at 220k. 

I'm certainly banking on the idea that Redwood City still has a lot of positive change coming its way that will out -perform any potential worries about the greater bay area market.

Bay Area appreciation can crush “real estate returns” elsewhere, though you can’t bank on it.

It’s foreclosured, the bank Is asking 159,700$.

I doubt banks are going to come down on price by $30k but that's what it seems like they would have to do for a profit to be made. 

If you connect with the homeowner, does the bank have to approve any deal you make as long as the loan is paid off?