Hi, Curious to know if the town will throw the book at me if a home is purchased without a CO?

Those who DCA - dollar cost average (and most do into their 401k mutual funds) won't get clobbered as they have been averaging in and over time this will smooth out all the volatility.Most people nearing retirement should be gradually shifting out of equities into something more of a fixed income flavor.Listen, I prefer RE over the stock market, however I have constructed over many years a fantastic stock portfolio of great companies that throws off income (dividends and distributions that grow annually) on a monthly, and quarterly basis that I will utilize to supplement my passive income in retirement...Days like yesterday (and today) are more like buy days, as if you look around you can find great value in these sell off days.

I wanted to throw this topic out there to see what people think about. 

Do you guys recommend throwing ALL my savings into this?

Thought I would throw an update out there.

you're just throwing your (or your dad's or other people's) money out the window.I'd be inclined to build your skills from the ground up.

Im not too concerned with the rewards, just hoping to get a little money back this way which we'd throw back on the HELOC.

Once you get established and comfortable with the property, you can throw additional money at the mortgage each month and have the same effect as a 15-Year Loan. 

I would reach out to a local real estate broker and pick their brain or even reach out to a lender and ask them about the different options they are throwing out at you.

I would trust Zillow and ilk as far as I can throw them.Imho the best source is mls, and verify data with tax assessor data or participants in the sale.