Oh my goodness I remember you thumping the Steelers for 8 or 9 tackles in 2013!

Remember that there are 4 different profit sources for any property and I want all 4 working for me.

If you want an FHA or conventional owner-occupier loan, you'll need more than $10k to cover the minimal 3.5-5% deposit for your next $350k primary.While in theory, 2x Equity Lines Of Credit could be approved, remember that Lenders only give out a percentage of the homes' values, so, you may not have $74k of borrowable equity!

Ideally, I would have the paragraph state that the buyer (me) can back out at anytime before closing, but the assignee is bound to the purchase of the house once they sign.

Take for instance I deal I'm running right now - Duplex (we'll occupy for the first year, but running numbers for when we move out)Purchase price: $190kTotal Rental Income: $1750/mo10% down: $19kClosing costs: $6kTaxes: $357.08/mo ($4,285 annually (6%)Vacancy/Repairs/Management: $350/mo (25%)Monthly Cash Flow: -$53It's sort of disheartening.

I remember when eBay was plagued with scammers selling fake everything, internet stock forums were full of pump-and-dumpers (who actually succeeded at their ploys) and Google search advertisements promised to regrow your hair. 

I would also say network with some lenders, or loan brokers to understand what needs to come to the table for your ideal situation to get the pre-approval and funding. 

But remember that only capital gains can be excluded under the 121, not deferred depreciation recapture, so you'd need to speak to a CPA about your specific situation to make sure you know what's what. 

My dad built one of those Home Depot sheds at the first duplex he bought and I remember going back to that thing all the time as a kid to get stuff.

And remember, they may be on a year (or more?)