Covid has made these issues worse but, it’s the highest risk market that exists.

@Brenden MitchumThanks ya that makes it pretty well clear i heard had to refi out to get another fha wasn’t sure if their wasnt any existing rent toll how long it would take a lender to consider ofsetting current debt on that building Thanks for your time.

Most likely you are better off keeping the existing (home-owner) loan. 

Total Purchase Price $396k$164k loan still exists on property For remaining $242k, Seller would accept payments of $800 per month the first year, $900 per month second year, and $1000 per month after that until the total amount is realized.

Purchase price: $812,500 Cash invested: $162,500 Purchased for 362,000 Rehabilitated existing building to 3 units (monster house) - 1(ea) 4 bed / 2 bath ; 1(ea) 3 bed/ 1 bath; 1(ea) StudioBuild 2 new units + garage to include 1(ea) 2 bed / 1 bath and 1(ea) 1 bed / 1 bath Currently grosses $7,350 / mo.

Now the single members Cousin wants to be a part and buy in to the existing LLC and it would become a partnership.

I don't have a great window into this besides BP, but what I'm surprised at is the number of agents and lenders, who love to bask in Zillow's mistakes without seeing the larger point that you made: they are making an attempt to solve problems that have existed for home buyers for awhile. 

While my credit is really good at around 790, I've been getting a lot of "factual data" inquiries lately from banks I have existing loans with, and I feel its starting to bring my score down.I'm looking for recommendations/help on a lender that will approve me for this heloc based on the info provided above, and give me 80-90% of appraisal, and not what I paid for the property, (a rehab) before I invested any money into it...

We help our clients negotiate state and local grants, tax abatements,etc.First step is to see what existing programs are out there with money, are you just talking about applying to those or creating your own request?

Due to current family situation, moving and house hacking isn’t possible, so that’s out.For those much more experienced and wiser than I am, do you think it would be better to still focus on my local market (considering I know the area and local economy, can do some of the work myself to save cash on a rehab and can utilize local and existing relationships) and find a way to create cash-flowing deals to achieve my goal, or look for a cheaper market with a lower cost-barrier to entry where cash flow is already more prevalent?