Bidding on a foreclosure carries major risk and should only be done if you are able to absorb a big mistake.

Hi Kent, was the note originated by a financial institution or a seller carry-back?

Single family price per square foot probably would not carry much weight when you consider a 4 plex we are talking 4x all of the appliances, sinks, plumbing hook ups.

My main concern was that with a HELOC I would not want to carry the additional payment for a long time, so maybe investing in a flip or something that would allow me to recoup the cash within a relatively short period of time would be most beneficial? 

We didn't qualify for the jumbo loan so the previous owner carried back 95k of the loan which we eventually moved over to a HELOC in order to cut ties with the previous owner.

Most of this carrying capacity is not used for carrying building materials -- it's for garbage and construction debris.

I don't know if that's because there's a lack of know-how or if it's hard to carry out here.  

That's why the loss is carried forward huh?

Though, 3.5% down definitely helps out a lot in getting into the game quicker, it does carry PMI upfront premium and annual MIP that I'm not sure whether it will help or hurt me in the long run.Any thoughts about this?

I carry one in my trunk (With a plunger).