We have a tenant that is accepting the letter we sent outlining the extensive damages she did.

When you say you partner, do you end up owning a portion of the property you find or do you just work exclusively with a small group of investors? 

They expressed their "wait" time for accepting applications is 4 years from date of discharge.I was considering using lending tree as a means of being guided to lenders that may vary on their "wait time" but wanted to ask here if there is a general wait time for obtaining a HELOC?

The correct answer is likely suggesting the seller to talk to his CPA / Accountant to see if there are ways to avoid taxes on a sale.You can also do a 1031 and retire from landlording(somewhat) if he goes into a NNN or TIC agreement where he is more hands off.The 121 exclusion only works if he lived in one of the units for 2 out of the last 5 years.

Make sure he signs the lease and accepts full responsibility.

Then build MULTIPLE streams of income, the type of income where you earn even while you sleep, month after month, year after year.Top that off with the power of compound interest, the ability to leverage other people’s money and the multitude of other benefits of owning cash flowing real estate and it is easy to see why real estate is responsible for creating more millionaires than any other asset class.BUT (and this is a huge BUT)…many of these benefits are almost exclusively reserved to those who actually OWN (or at least control) the real estate.I’m sure others will have differing  opinions. 

If they don't accept new rates have language that if they don't respond by a certain date then it is their notice to vacate in "X" number of days.

Now I work exclusively with STR investors here.

I accepted the rest of the inspection report because my contractor looked over the property and didn’t find anything else.

- Idk, I figured I would find this info out during the inspection if an offer was accepted.