Hey BP,Have a rental property in Durham that has some equity and wondering if there's anyone on the forum who knows of lenders either in the are or online who would issue a HELOC on a rental?

The disclosure statement is available online for Indiana.

I don't know your market very well but look around online and see if single room rentals are posted. 

The other option is to flail around with no experience and no knowledge, do a bunch of stuff you read about online, and hope to get lucky.

I researched a couple of turn-key options online and found the one-stop service by Roofstock looks quite interesting.

You can also check their reviews online at Google, Facebook, or Yelp.

I've read a few books on the topic, I've done some research online into it, etc. 

The percentages are based on the number of financed properties:• 2% of the aggregate UPB if the borrower has one to four financed properties,• 4% of the aggregate UPB if the borrower has five to six financed properties, or• 6% of the aggregate UPB if the borrower has seven to ten financed properties (DU only).The aggregate UPB calculation does not include the mortgages and HELOCs that are on• the subject property,• the borrower’s principal residence,• properties that are sold or pending sale, and• accounts that will be paid by closing (or omitted in DU on the online loan application).

Gradually work on getting tenants switched over. in my experience tenants that pay in the mail get used to it and may not like doing things online.

I’m reliant on online real estate websites for research and when my very busy PM can visit a property instead of just going myself.