I don't like gambling unless I already forced equity into the property.If you have some patience and are shopping for yourself I would avoid the MLS for deals in your area, they really aren't there anymore.

Some examples of good reasons include:* Evidence that the borrower obtained the HELOC fraudulently* A documented poor repayment history* A decline in the value of the property used to secure the loanIf you were relying on the line of credit as your primary source of funds, and the line gets frozen, you may need access to other funds to finish your rehab project.Other than that, it's great source of cheap money.Cheers!

Otherwise it would be a gamble.

Long story short.....I was a pizza delivery guy in an area where there were lots of bars with video gambling machines (illegal but not really enforced).I had NO desire to play them....I wanted to OWN that non-taxable (illegal) income stream!!!!   

Not because they are both gambling, but because the number one rule for both is the same..."

You think you have the money, only to discover it disappears a few weeks later when the bank figures out the check was fraudulent.

I would get a direct conformation letter from the tax authority.The problem is certified checks can be fraudulent and if she wrote a personal check it could bounce later on.

I am unwilling to gamble 20 years of slow and steady building for a shot at a quick profit. 

EIN identity theft is more problematic than SSN theft and is growing more quickly as there is so much more that can be done fraudulently under a company name. 

My parent's home is across the street from an elementary school, and it has since become an extremely valuable place to live.High schools are more of a gamble.