I refuse to deal with rat hole houses in rat hole areas....you typically get rat hole tenants in those areas!

About $5k is typical for closing costs in my area.

The advantage to the HELOC is that the closing costs are way less, but typically they don't have a fixed rate and the amortization schedule is a lot shorter.

@Paul Wakim I agree that LinkedIn is probably not the best place to place ads because the CPL (cost per lead) is typically $9 for a very well-targeted campaign, whereas Facebook can be pennies on the dollar. 

Is this typical?

Yes, but you typically need to season for 6 months unless you get lucky and find a portfolio lender or if you decide to go commerical.

There are a lot of different ways to make that happen and that typically boils down to what you are most comfortable with and feel like is most effective for you.

I know a bank typically asks you if the property has been rented for more than two years to treat it as an investment.

Typically, with a chunk payment of $10,000 or more on a loan, a bank will re-amortize your payments based on the # of months you have left to pay, and let you keep the same interest rate!

Typically, 30 days minimum written notice is needed, and without that, you are technically entitled to the security deposit.