Even if the market conditions changed negatively but not drastically, the contractor is willing to absorb their share of the profits in order to protect the investor's share? 

And your leverage is low enough that you should have no problem absorbing all of that into new properties or fractionals if you want to completely defer all tax.

I've absorbed the information of 4 bigger pockets books within the past month and a half, have been watching my local market, running numbers, and I feel that I've landed on a deal. 

Educate with Podcasts, Books, Webinars, absorb as much information as you can and focus on a specific niche.

However, if this is simply a case of spending a little less on personal lifestyle choices now during a cash poor period while you complete a couple of rehabs, I say absorb the lifestyle pain now and enjoy the profits down the line. 

The fewer months we have to absorb those costs, the more each month will be. 

Tidbits in each and every one, plus it helps to absorb the feel of the business. 

They are busy and deals go fast in this climate especially in my market where everybody has money and wants to invest.I can only learn and absorb so much by reading. 

thank you all for the info......its going to take me a little while to absorb it all but your input really helps.

I don't see why you wouldn't be able to refi into a new HELOC, granted you have enough equity to get a new loan to absorb the old one and still give you some breathing room.