If you negotiate a good enough deal that pays you then complete the transaction with the investor to buy the house you have under contract.

Would it be good enough to build up a large reserve per property and then stop saving for that reserve and start paying down the principle on the loan?

But are they good enough for me to move into a market that is further away and that I know less about?

If not, a person could theoretically avoid ever having a judgment against them if they were good enough at dodging the process server.

You will likely only get one chance since if you are not good enough, they will work with the best offer. 

-It would be easier to refinance an owner occupied property after remodeling (than it is to refinance and pull cash out of a renovated investment non-owner occupied property)Your concerns about adding new properties: you may find owner carry deals, or find good enough deals to use portfolio or hard money. 

Some REOs may be in good enough condition to be acceptable to a conventional lender. 

@Gaurav Bhasin Right now I am staying local because I have networked myself in good enough where I am building a nice portfolio here.

Or is the HELOC good enough?

It appears the stove is to the right in the picture, and we can't see it good enough to comment.