I thought that was the down payment, but it's the price of the condo.

Chase bank recently requested I add this into the listing agreement (LA) I have with the seller:  "SELLER MAY CANCEL THIS AGREEMENT PRIOR TO THE ENDING DATE OF THE LISTING PERIOD WITHOUT ADVANCE NOTICE TO THE BROKER, AND WITHOUT PAYMENT OF A COMMISSION OR ANY OTHER CONSIDERATION IF THE PROPERTY IS CONVEYED TO THE MORTGAGE INSURER OR THE MORTGAGE HOLDER.

With the rent covering interest only payments on this kind of loan, I would only have to cover minimal repairs to get units rent ready (prior to getting them occupied if they are not already).

Simple weekly payments my customers can handle and not get in over their heads As well as rent to Own the land they sit onIn FL they would be separate according to Atty as they have not been petitioned to be conclvertes into real property yet 

Having that option can be a huge help with your mortgage payment and property value.Regardless of what you do, I would continue to invest out of state.

Our total mortgage payment is $540/month (tax/insurance) and receive $900 rent.  

It seems like a good way to finance your earnest money or your down payments and then refinance?

I would like to use a HELOC for the down payment for the property and I only have a few thousand is savings at the moment.If I'm buying a property for around $80k-$100k that cash flows $100-$200 a month after vacancies,repairs,etc then based on the above what do you think my odds of being accepted are?

I am interested in how people have funded the down payment?

Fully landscaped yard maintained by the HOA.Down Payment: $0.00 Loan Amount: $203,000.00 Amortized Over: 30 years Loan Interest Rate: 3.625% Monthly P&I: $925.78Monthly Income: $2,200.00Monthly Expenses: $1,949.20Monthly Cash Flow: $250.80 Pro Forma Cap Rate: 4.97%NOI Total $14,119.00Cash Needed $4,000 Cash on Cash ROI 75.24%Purchase Cap Rate 6.96%