That’s not a lot of tax savings but it does give you $68k so you can put down 10% on your $650k home.

I wish we could tap into equity as easy as that. let me know if I can help in any way but probably not to answer your question. if you can split the lot and sell half that might be an idea to recapitalize. that's the the only way 

Or can I draft up my own purchase and sale agreement with a real estate lawyer that includes only language that I need for my wholesale deals? 

You can find them with a quick search. 

You can get cheaper properties closer to the center of Atlanta, but they'll require a more extensive rehab. 

PM in these parts can be much different AM.These mid-west homes and neighborhoods can be deceiving.

You can also search Google and read reviews.

Please let me know if there’s any way I can assist you. 

That's useful for informing decisions.With respect to the interest rate: I do have a sense that borrowing at such a low rate can be viewed as an asset.

If that's the case and you aren't viewing more properties in person than you are making spreadsheets on, you are destined for analysis paralysis.Spreadsheets can only tell you estimations based on numbers given to you online or by a real estate agent whose job is to sell the property.