I've found a small mobile home park that may be of interest to me assuming the numbers work out correctly.

I used to work for a company that helps people currently in foreclosure work out a repayment plan with their lender.

how did things work out larry?

Don't assume that your local retail home improvement store is the place to go for all of your needs- remember, every dollar spent in excess is a dollar lost.Make sure that your figures work out, and give yourself some financial room for the unexpected expenses that almost always come up when dealing with rehabs.Establish a good business relationship with wholesalers in your area.

I pay $306 monthly to belong to my brokerage and I work out of my house.

If you have the funds for a rehab.. this might work out.

Your post says you're "buying in @ $86/sq ft, but your numbers work out to $66!

I think the most effective method is contacting home owners that are about to their home foreclosed on or are in foreclosure, and see if you can work out a deal with them to buy their home at a cheap price so their credit doesn't drop through the floor.

That will allow you to walk away if things don't work out for you.

Initially I was thinking you could cover the whole cost of the new place with the HELOC, but that doesn't work out unless you use both your home HELOC and the other property HELOC.