In these markets people have to adjust, and this typically means investing for capital appreciation, development, or syndication; which are all great methods but a bit more advanced.

5) Is it ok to have a minimum purchase price with a right to reappraisal at lease expiration to adjust price to current market price?

@Wayne BrooksI think you meant to add a no in your first sentence.Tax would be sales price minus adjusted basis. 

By understanding this I could adjust my income and see the probability of me losing one or more income streams and how it changed my ability to service my expenses.

We're confident we should be able to have the appraisal adjusted to at least the 325k range.

I'm pretty sure that your HELOC should have a cap for how high the adjustable rate can go. 

There may be an adjustment on the horizon or not but for now flipping is becoming a much higher risk.

That is only because I have done so many deals that I know what I'm looking for and how I need to adjust my offer and rehab budget.

.- Landscaping, add nice garden up front, trim trees, remove overgrown vines from house siding- Remove old walkway and replace with new right angle walkway to driveway instead of street- Fix up front porch, new concrete probably- Repair any problem siding- Flooring has some unevenness, joists in crawl space/basement need to be added or adjusted.- Exterior paint, interior paint - HVAC and water heater appear new, roof appears new- Interior has some water stain marks, replace drywall patches- Replace kitchen with modern cabinets, granite, appliances- Oak floors downstairs hopefully can be refinished- Replace carpet upstairs with composite flooring or nice carpet - stairs are carpeted!

When the markets adjust you will be stuck with a money pit.