But if you know what you're doing, then yes, it's a way to get in front of the line, especially in a competitive market such as L.A.

I have language along those lines in the lease.Thank you.PS, I live in Indiana.

Take into account the equity the private lender wants plus their fees or the rate and fees associated with a line of credit.

Also, I am not aware of any hard money lenders taking second lien positions, perhaps you can secure a personal line of credit or partner with another investor. 

Gotta increase your income to buy units that's the bottom line.   

On line 15 of the worksheet for Schedule D the taxpayer enters $38,600 if single or married filing separately or larger amounts if married or head of household.

Have you also considered right over the line in South Carolina?

With your credit profile you could possibly find a broker with good connections that might be able to get you down another tenth +\- I have had a few lines offer as low as 4.15% in the last few months so I know it’s possible.

Would you look at that. There is a road going right through the backyard (or front yard?) of the house I'm interested in buying. Dotted outline property.The realtor explained that it used to be a dirt road that the tr...

In line with what @Julie McCoy is doing, it works great for properties that have a "versitile" inventory and this is the reason for most double listings.