This is something I aim to understand more about.

My underwriting would have this large negative cash flow for 7 years.I would do a thorough underwriting but want to show using quick math the issue so I will use the 50% rule.  

However, you are talking morals and ethics with a gentleman who has successfully done business with perhaps hundreds if not more users on this site and hundreds more who have never heard of BP.  

The REO class starts on Monday and I am attending but I am not spending another nickel with this so-called guru or his COGO Capital organization, which he claims costs $1999.00 but is pitching for $199.00 now and another $199.00 in 30 days.

As mentioned before, you can get away with paying for the draw money, but not using it. 

The more the better.  

Even with a W2, it's completely doable with the right systems in place. 

I do not see how anyone can use your experience as a guide without specifics to learn from. 

This forum is pretty open and people often share their knowledge and best practices, hence don't hesitate to ask any questions you want :) Good luck with your business!

From what Ive seen looking the home equity and heloc are similar if you get a fixed rate heloc if not your probably paying more in interest.