I'm not getting into a back and forth about the merits of lack thereof of breed specific legislation.

Nothing wrong with not jumping in right away right now... i believe this merits a special circumstance... so no need to pressure yourself. 

Recognizing that this is not always possible, MIRR calculations use a rate of return for reinvested income that is closer to reality.IRR and MIRR can each be used to evaluate the relative merits of two or more potential investments over time, but both calculations depend upon some predictions that will likely not reflect an actual outcome.  

While this has some merit you can look at your cashflow without using any HELOC.

All types of RE have there merits and downsides.   

They don’t tell you what the product is, because each deal is evaluated on its own merit.

I think there's some merit to the "take the hit now" strategy.

I suspect that this has some merit.

You said yourself, that you "would not touch this one" which sort of goes to the heart of wholesaling, you need to value the property so you can show the merits of the deal to the investor.I do not expect a rental investor to jump at this one from the point of view of a cash on cash return.

Also I haven't even brought up the fact that since I sold my business I do not have a current income even though I can still provide my last 2 years tax returns if that helps.Since this will be an investment and rental property, I was under the impression that as long as I had roughly 30%+ downpayment and the financials looked good for previous rental income/numbers that it should not be impossible for me to be able to get financing based on the merits of the actual property and my cash down payment...regardless of my current debt to income and income situation.I still receive my monthly VA benefits and have rental income from one of my vacation rental properties I own but I don't think they will count that income until I file it as part of my tax returns.