I know people are always saying to invest based on cash flow and investing based on capital appreciation is based on speculation, but I've found that appreciation has worked for me.

However, if you believe then market will still have legs and you would like to speculate, I would love to sell to a BiggerPockets member.  

I speculate your agent is working on the back end hoping to piece this back together and get it to closing.

This is speculation as unfortunately I know of no one that has a good comparison to what you desire.  

If Mike is able to save a substantial sum of cash he doesn't sound like someone who would be tempted to use the HELOC for consumer purchases or speculative investments. 

The real question you need to ask is if you want to be tied to the SBA rules, remember you must owner occupy the property at least 51% of the square footage for the duration of the loan, it is very strict and not for investment or speculation on real estate.So the question is, do you have plans to lease it to others (not your company) in the future?

A lot of people are asking if I plan to do a revision in the near future, and the honest answer is, until the market settles down and inflation is under control, any pricing speculation is going to be out of date pretty quickly.All that said, the main purpose of the book isn't to list prices for things.

I also believe a part of this low demand  in Q3-Q4 that we're seeing is speculation by the would-be buyers (to see how low prices may go) as opposed to a lack of affordability (once prices bottom out, how fast can the market get hot in your opinion?).

.- Code becomes a bigger and costlier deal -- all of your properties will be squarely considered commercial and NOT residential, so when you pull permits to do substantial improvements you'll *get* to install a sprinkler system, etc- (speculation here) More susceptible to property tax hikes As for me and my house, we have chosen to buck the conventional wisdom and stick to SFR and small multi's (doubling down on what we know and are skilled at) until we can jump to more sizeable mutlifamily properties.

Trying to do much beyond analyzing an investment with the data that is available is speculating.