You also don't have to pay state tax on income. 

As I see it, the only ways that real estate pays you well in the first 3-5 years is low to no leverage or a strategy that requires more work (short term rental, mid term rental, rent by the room, etc.).  

MattIRA can pay down 30k on the 100k and now owes 70k and has a note for 170k.

Once the property is sold we will be able to pay off the HELOC and will also have further funds coming in the following year.

People claim that 1031 investors over pay all the time just to avoid taxes.  

In effect, you will end up paying tax on your refi cash later on, when you sell the property.

Some appliances just pays to get new.

Now, you need to figure out how to find deals and pay for them.

The program is neither good nor bad, there's just different pros & cons compared to cash paying tenants.Have offered to schedule a call with you numerous times to try and assist you, but you seem to prefer posting & posting & posting - which will take so much longer:(What are the chances you'll actually invest someday, given how long it's taking you to do basic research?

Don’t pay attention to what other people do.