You want to use the banks money and use that other 30% - 40% on another deal that should increase your ROI depending on how good of deal you invest in.

Banking on variables that you have no control over is speculative.

I have $25,000 saved in my bank. 

The seller is behind on his payments and heading toward foreclosure, and he’s selling the property for what he owes on it to my church..he’s financed with a local bank.

Thought I would check with the community before reaching out to local banks/brokers. 

Can anyone recommend a bank with decent terms for a non OO HELOC? 

Having an extra $60-70k in the bank would put me in a better position to jump on a good deal though.

One of the biggest repairs was putting in a new water heaterWhenever some repair came up with the house the owner would always state that “he is a bank and we would never expect Bank of American to do any repairs, but if we wanted to forgo our lease option money then we could forfeit that and he would come donthe repairs”Anywho we have moved out and he is saying the carpet needs to be replaced and that that is our responsibility and if not there is the possibility that he will sue us. 

So you'll need your LLC to have bank accounts, check books, address, everything.Or you can just keep it in your name and get an umbrella insurance policy.Also, if you do not have a ton of equity in your property, then you have very little for someone to sue you for... 

I've requested the last three bank statements to take a closer look at their financial situation and spending habits.