Dave Ramsey is proud of you ;)There's no 'right' time to pull out the HELOC bc its a floating rate until you draw so it might be 9% today and 10% tomorrow and 8% the day after.

By comparison, liquidation of these properties today would yield a slight loss.

What's your LTV today?

There are very few sellers of notes right now, so who are you buying and selling too.You are going to be sadly dissappointed and realize after 3-6 months you probably wasted your money.Your best bet is to join some groups on FB or elsewhere and start to learn that way.Let me ask you this question: Have you spoken to any note investor out there to ask them about the environment today to actually get into notes? 

I did see that mentioned in a LinkedIn post actually today, the clawback rule. 

Are today's syndicators that are buying yesterday's failures getting good deals? 

I also wouldn't be involved in day-to-day operations onsite.

With middle 700 credit scores you can push your rate into the mid 6s today.

ARV (maybe in 2018 - it would be much higher today) was ~$600k so we wanted $420k.  

They might look like base hits today with low cash flow, but they’ll look like home runs in 3-7 years.