This necessitates either reinvestment of profits back into the business and/or some type of equity partner - either limited or active.

Yeap....this "strategy" would necessitate a cash purchase.

Of course, this also necessitates locked equal terms on the HELOC as on the conventional mortgage, which is not the norm in my experience, lest the compounding interest savings rapidly disappear.  

However, the amount of time that the door will need to be off the hinge while it's being worked on might necessitate just replacing it.  

Placing a range in the basement would necessitate fire separation between the basement and main floor, so we simply exclude the range.

It's not uncommon for home buyers to have existing leases they need to honor themselves, and other considerations, that necessitate waiting a couple of months before moving.Finally, as a landlord, be very careful not to use (or even sound like you're considering) age, familial status, or disability as factors in tenant selection.

An added layer of complexity is that the guy did not have a will which may also necessitate getting a lawyer involved.Help me out BP!

Pragmatically I thought that having more rental properties would diversify my risk from vacancies.The owner occupancy requirement I was referring to the ones necessitated for a FHA loan.

The money is there when you need it - why not enjoy the full cashflow on your first project until the first of: 1) you save up a management reserve (6-months' gross rent would be a start) or 2) you find a project that necessitates pulling the cash out?

Plumbing repairs necessitated by tenant(s), family, guests or invitees, carelessness or neglect shall be at the expense of the tenant.