You can read all the books and listen to all the podcasts, but until you know other real estate investors, you will not buy anything and not move forward.

The contract is assigned, then a buyer buys the deal and their money is used as they are the ones buying it. 

@Omri Avital, I would start by trying to talk to your investor contacts that were buying your wholesale deals.  

I want to buy a new private home and use my current primary residence equity (plus some cash) to buy a new primary house cash and then sell the old one.So, I am looking for a HELOC with little to no closing costs, as I will retain the money only for as long as I am selling my old house after buying a new one.Any advice?

I plan on installing some form of termite protection after purchasing anyway, but is there anyway to make sure I'm not buying a house with a full blown infestation that could become a bigger issue?

@Matt OwensI did a HELOC on my primary to buy a couple out of state rentals when I first started.

Investment Info:Single-family residence buy & hold investment in Ellijay.

Your due diligence time period would have been the right time to inspect further if you wanted to, to gather the info you needed in order to make a buying decision on your end. 

If I buy the parcel from him, how does that effect his loan?

Just to use round numbers, I'm buying for about $250k and plan on putting about $200k into renovations and an ARV around $660k.