(if that's what you're after) You could ride the wave a little higher, but when it crashes down, you will be upside down.

Just like in an exam, the goal is to arrive at the right answer.  

There used to be first time home buyer programs before the crash.

Normally if you are at a "foreclosure" auction your purchasing from the bank so just arrive early and ask the asset manager or the trustee/attorney/auctioneer who arrives to liquidate the property.

There were huge funds who chased NPN's after the crash and are now closed.  

. - Greg was making certain assumptions about your operating expenses on this free and clear home and about what the payment for the line of credit will be to arrive at his opinion that you "would not be able to afford," this and remain cash flow positive however actual real life results may vary.You can often get a line of credit on a rental property for up to 70-80% depending on the credit union. www.penfed.org I believe offers a 4.75% interest only line of credit up to 80% for a max of 3 financed properties last I checked, but you may check them out when you have free time.This roughly translates to $39.58 monthly interest payment for every $10,000.00 borrowed. 

The app works well, it's fast, and it's never crashed on me.  

Bring with you something that will describe the terms/conditions of the HELOC so that the lender can accurately arrive at that calculation.More than one real estate investor has wasted a bunch of time and money on looking/writing-offers/appraisals/inspections/etc, on homes that they did not qualify for, because some dummy lender just used debts showing on the credit report, instead of a hypothetical future HELOC debt that will be there when you draw on it for your down payment.

find a tree leaning over the house about ready to crash through it.Tenant freaking out... good tenant from what I can see..

If your exiting tenants move into their new house in the next couple of weeks, then you may get a little time to spruce-up the unit before the new occupants arrive.