I'm not accountant, and I don't pretend to be one on tv.. so hopefully others will chime in shortly, but I don't think you'd pay taxes on a draw from a HELOC used to pay a debt.

Well - I am pretty sure if you don't make the first three payments the mortgage company you use would be buying the loan back.So your not just messing with yourself but the mortgage company.You have listed a lot of "Lets Say (meaning lets pretend?)

Usually collected as part of the application process.Fraud: let’s not pretend it doesn’t happen.

I felt like starting a new thread whereas there have been several threads.. one particular as of late where people that do not have an real contract pretending that everybody keeps their word and that they would keep their word too.

There's no reason to "list" a property for sale, if it's already pending, except if you're trying to pretend that you tried to "market" the property.

In a nutshell, tax laws let us pretend that a house will be worthless in 27.5 years.  

Now lets pretend there is no appreciation for the next ten years and that rent will not go up over the next ten years and you only rent it to tenants instead of doing a rent-to-own strategy to really rake in the big bucks.With $30,000 you would increase your yearly income by $23,700... is that enough for you or your wife to go part time?

@Shema TurnerI'm going to pretend I know what I'm talking about for a second :-)Net operating income is your operating income minus operating expenses.For example, your operating income is the total that you bring in from your property, minus everything you spend holding and running the property (i.e. mortgage, taxes, insurance, electric, maintenance, etc etc).

Lets pretend I am bringing my house to you for the first time...at this point I am curious,  and even more important I need to know how to do it in the future so I don't get insecure again since I am planning to keep investing and selling. 

Bob Bowling... look, I am not a CPA, nor do I pretend to be.