Also what kind of financing would I be looking at from bank?

Newbie needing advice on loan terms from a local bank.

@Violet Minnella, I have not specifically used the program that you are talking about, but my experience is that they are only really good for insurance and banking and they are not nearly as competitive in those areas as they used to be.

You might not even qualify for 6% bank financing. 

I don't have very good credit, but recently I sold my house and have a little over 200k in the bank. 

I was a little worried that if I had a HELOC for the down payment then the banks or financial institutions would look at it as a loan on top of a loan.

Is it a city-owned utility that can attach to the property as a lien?

How would I go about wholesaling foreclosed homes aren’t they mostly owned by banks?.

I disagree as to me they are both needed, but I understand that for some it may not be necessary due to their threat level.Also using entities will create additional costs (creation, maintenance fee) and additional administrative burden to keep its protection veil intact (multiple bank accounts, paperwork trail, tax reporting).

I hate the kdea of $20k just sitting in two different bank accounts if were not using it all that often.