I had a few $K and borrowed the rest of the DP from my brother and sister.I sold it on a wraparound mortgage for low 70's after reading Wade Cook's book Real Estate Money Machine.

The Government borrows money from the FED.

Now Paragraph G.7 reads: Before or at closing, Settlement Agent must receive from Borrower cash or other good funds (as defined by Applicable Law) sufficient to pay all amounts shown on the Settlement Statement as payable by Borrower.

A bank or lender may lean toward a debt coverage ratio or a debt to income ratio, or both, but they may not ignore the issue of a borrower's ability to pay. :)

Remember, 75% of $80k is just $60k (re-borrowability).And that's if your Lender will even go as high as 75%...

The borrower typically believes it's easier to obtain financing because they own multiple properties but in reality more line items in your name equals more underwriting which takes more time.

This could be an opportunity or a huge blunder because when a note holder has issues, the borrower will generally have issues as well.

., when you get 14 years on a water heater you are on borrowed time. 

There is very little you can take in Texas.Plus the LLC wont be able to borrow money etc. 

The benefit I'm seeing with having a HELOC in lieu of a conventional mortgage is the fact I only pay interest on the principle borrowed.