It is just a practice exercise.

I have had a HELOC on my primary residence for years and have exercised it multiple times to support investment purchases.

But while you're still just running numbers as a learning exercise, you can use the crime maps on Trulia and use Google Maps to view the street.

simply do not take anyone's word for this landlock situation.. open escrow get a title commitment and see it it is actually landlocked.. if it is your remedy in the real world. is1. getting a neighbor to grant you the proper easement you will need.2. confirm from the city or county that you can access the property from this new easement..despite common statements folks will make that no property can be landlocked.. and there are remedies this simply is not true.. properties can be landlocked... owners do it to themselves.. not common but it does happen.As for the old house.. sometimes if there is no lead or asbestos fire department will burn them down as an exercise.. ( sometimes)biggest issue in many markets now is the lead paint and Asbestos remediation during the demo.. some areas they don't car.

If their agent is OK with waiting the seller can simply pay the sale commission when you exercise your option.

Write-offs, knowledge to lower my taxes substantially, write-off's you don't commonly think of, things like "paying your kids 12k a year", and "using 'vacations' as 'team building' exercises for said employees, etc.3.

I do plan on exercising the option to buy when the lease term is up, but I don't want to buy in SoCal.

The TAR has provisions that will get a landlord in trouble if exercised. 

If you’re using hard money that can be a costly exercise.

I found this: http://www.loopnet.com/Listing/1764-Gowan-Dr-Memph...I picked this one as an exercise because it needs a lot of work and is in a place I know nothing about.