I want to purchase an underperforming asset at a Price of X.

As we all know, you are really paying for the commission in the purchase price. 

Have you guys ever purchased a property without physically seeing it?

We purchased the house about 3 months ago and are owner financing it.

I have used HELOCs for probably most of the purchases of the properties I own. 

For an auction.com purchase in Washington you have 2 options. 

I've got about $525K in equity in the property, but lenders have told me that I cannot get a HELOC to access that equity for additional purchases because the duplex was financed as an investment - they have said TX law dictates that HELOC can only be used on primary residences.

The owner has purchased a property like any other real estate transaction, and they own the physical property. 

If you are coming in with 235k, you probably would not need much more, if any, to make the purchase.

To defer all tax you must purchase in total at least as much as your net sale.