Do I gamble my last dime on a single-family cash cow, or do I roll the dice on a flip and hope Lady Luck is on my side?

But, for the convenience of setting up a stupid Whole Life policy, I'm going to borrow $30k from the bank, on my investment property, a collateralized line of credit against a collateralized line of credit.Why would I buy a stupid life insurance policy, pay 4% interest on the credit from the bank and earn 4% on the interest in the policy?

But that conclusion is more about what is convenient for the CPA rather than the client they are serving...Unless the losses can be tracked without filing the state return and then captured as suspended losses when there is passive income from the syndication (this is what the OP’s CPA is proposing to do) - how is this possible? 

If you really want the property and don't mind a small gamble put down an amount of earnest money that you will not be upset to lose and that if you were in the seller's shoes would make you feel OK about taking the property off the market for 60 days and make it non-refundable to be conveyed to Seller upon offer acceptance. 

I had a few appraisals come back from Akron/Clv markets and had the appraiser comment that it is a "down market".If you are targeting the 50k purchases with the 20k rehab and then hopping to refi out afterward you are taking a gamble because if you do not get the 100k value after the rehab you can get stuck in the project or be forced to take a mortgage with a terrible rate.Keep your purchases 80k and up and try to make sure your project costs are over 100k on everything so you can be pretty confident that you'll get the 100k value afterward.

The house is a 4 bed/2 bath in a B neighborhood, conveniently located, zoned to decent schools. 

Is it convenient to use excel files to make all this calculations?

Flagstaff is on Interstate 40, so if your property is convenient to the highway, you will have no problem renting it.

However, it’s a gamble.

How convenient is it for students or young professionals?