Which can lead to mortgage fraud, wire fraud and banking fraud. 

Just keep in mind that contractors may hesitate to attend multiple pre-inspections, especially if they lead to no work.

We buy at a discount and pledge our legal right to collect the debt (a collateral assignment agreement) as the collateral for the private capital loan we take out, which is backed by the value of the real estate securing the 1st loan.  

Unsecured personal debt is often from institutional sources, but at rates of 9-20%, fully amortized over 3, 5, or 7 year terms (not interest only).

Refinance into a debt service loan.

Regarding the HELOC question, consider the interest rate on the debt.

We are frequent users of the Rental Property Calculator and have found a few promising leads thus far but also know that is just the beginning of the process.

Avoid leading with a low offer or mentioning how long it’s been listed.

That's before you pay any debt service.To answer your question: No, it's generally not a good idea to lose a bunch of money every month.

This stark contrast leads me to question the legitimacy of the program and its purported benefits.In conclusion, my experience with James' mentorship program, particularly through the actions of Kristin Witherspoon, has left me disillusioned and skeptical.