Also, check with your bank. 

He was even willing to show me the HUD 1 from his most recent deal and his LLC bank statement for the month of October.

Hello all,I realize I can just call my local banks and even my current bank, but they’re not open at this hour..so...I inquire of the wonderful BP minds:Can you refinance out of your current HELOC into a new HELOC...with a different bank?  

I put that money in my rental bank account and don't spend it this year.

I would imagine it would skew ones DTI ratios way past the front/back end ratios banks are comfortable with.

I would call your bank and ask them. 

Both properties are bank owned.My questions is for the quadplex. 

This property was foreclosed by the bank and the city. 

They claimed that MLS deals were not that efficient way to get a deal. they suggested going to local banks for REO's and wholesaling.

The bank will lend you the lesser of your purchase price (plus loan closing costs) or 75% of appraised value.