Back it up with comps that show a healthy margin. 

My mental health is far more important

They then explained their situation and their mom living in that house was not a healthy environment, they then begged us to take the house off their hands, so we said fine.

I am a huge fan of condo investing b/c they are a great long term investments (assuming the HOA is "healthy") and low money to get in.

When I was ready to buy it, he subordinated to the construction loan, then after construction and upon the sale of the spec duplex, he was paid back his original investment plus a healthy profit.

I am here because the concept of becoming financially independent through real estate is easy to understand and appealing, I at least have some experience in buying and selling 4 different homes (all primary residence) and I can have some level of control in the outcome.I have a decent amount of capital available, about $300k liquid (that would require me to sell a few stocks/ETF's), I have nearly 50% equity in my house valued at just over $1M, and a healthy 401k etc. 

Reassess your insurance and tax rates.Understand capex costs and get healthy budgets to handle rehabs and contingencies.  

The longer play that really is interesting to me is how to make suburbs healthy.

The HELOC's will be paid back in the first quarter of 2015 and the second quarter will see our reserves start to get healthy again, but what a bloody fight!!

It takes a lot of effort, strength and commitment to do what is right for our financial health. I