I am soon to buy my first Real Estate property using 100% financing from a local bank.

Having a hefty security deposit in the bank is much more beneficial.Also, don't lock yourself into a 2-year lease.

I wish you much success.First reaction to your post is to urge you to keep enough in the bank for a rainy day. 

As part of the broker's license requirement, I need to open a broker trust or escrow account at a Real Estate Commission bank.

You will typically have 1 or 2 local banks who will issue mortgages on the property.

Or has it been foreclosed and now bank owned?

or not.Many banks will go as high as 80-90% LTV on a HELOC for your primary residence. 

Using your primary residence as your own personal HELOC bank for BRRR strategies is very enticing.Tim SmithKennewick, WA

Yes, it's obviously a good thing that the economy is doing well, but I certainly do miss those housing prices circa 2011-2012... spoken by a true opportunist  :) also if you were building new construction like we are in Portlandia you would say thank god for the rebound.. much better to put those nice checks in the bank then right them to sell inventory  :)

The bank wanted 44,900.