Without businesses it loses its revenue and becomes a trash heap.

you lose all ability to be hands on and add value. 

Ok lets talk about reality on a warp.. first off the buyer on a wrap has to acknowledge that if the underlying loan becomes due its their responsibility to cure it or they will lose their position.

I appreciate your caution but I am going to continue what is working for me, if It stops working I only lose a bit of money the rest of my money is in the SMP and it wont be taken out to fund more trading endeveurs.

However, I’ve witnessed cases where the investor went “all in”, spending and losing many millions.  

You do run a "risk" of being outbid at REO sale and "losing" the property, but given that may happen, the "total debt" is your security as you may bid up to that amount where it makes sense, but you may also be able to cash out for a healthy profit at sale if you so choose.

Ideally they did not pay over retail because if they did they could easily lose the money they put into the property if the loan gets called.  

Win, Lose or Draw he's still in the records from your filing;-)Housing Court Judge, speaks to us at MassRealEstate dot net annually.

What did I really have to lose?

HELOC's are good if maybe you don't have a deal, but want to keep the money ready to use and the property has a low rate that you don't want to lose. 2.