So for example if I rezone from RS-3 to RM4.5 and add a basement unit (4th unit), maybe I can then add a ADU above the garage, or do another studio in the basement, once the citywide program is opened up?

For example, this investor that I met recently said not to buy properties at tax auction for 100+ different reasons.

Let's use that as an example. 20% down is $43,000 plus lender loan origination fees, closing costs etc is going to push you over $50,000 cash out of pocket.

In a 1031 exchange, the replacement property must exceed the total sales price of the property sold ($700K in your example), not just your equity portion.

Lake Lure, for example, has more to offer, is more well-known, and is closer to some other great towns like Black Mountain and Hendersonville. 

Quote from @Polat Caglayan: Can you give me a few examples of where and what kind of investments I should not make?

For example, I could use the HELOC to purchase a single-family rental property.

Right.3) We need to 'export' every single person in this country (lol i know that's probably not really possible unless we bribe them) but then start fresh.

I have looked for examples of landlords that were protected by their LLC and always come up empty handed.

For example, $50,000 loan at 10% paid out evenly over 10 years.Like I said, super new to this part of the business, so trying to wrap my head (and spreadsheets) around it.