Just as a general note, I'd caution against taking large write-offs against ordinary income if your goal is to obtain bank financing. 

Obtaining a new fridge right now is nearly impossible.

What is my strongest course of action to obtain take-out financing?

We want to obtain another in the very near future.

My mind was blown over how many strategies there are in real estate and more importantly how I can obtain a HML to purchase/ repair a property.

With 5+ units, while they of course review your personal ability, they put more emphasis on the cash flow of the property itself and how its ability to perform is of high importance to them.Always keep in mind the following: 1) market cycle; 2) debt; 3) exit strategy (h/t Bill Ham).As you’re already seeing with deal flow, we’re towards the top of the market cycle with valuation.

I'm hoping to help other real estate investors find properties to house hack and start their journey to financial freedom.Once I accomplish obtaining my licence, my next goal is to actually buy my mom's primary home in Canon City, CO that is now being run close to full time as an Airbnb that I manage for her.

If you closed without forcing the seller to remedy it (purchasing the strip or obtaining an easement from the county for the life of the structure), your owners title policy would have an exception for that encroachment meaning you would be self-insuring as to this problem.Factor into your purchase price and plans that you or a buyer may need to quiet title in the future.

@Tarik Turner my credit is in good standing so I am not worried on that front, but are you saying in the future if I obtain a third property there are mortgages out there that are non-reporting and will not impact my personal credit profile?

California Home market value 620,000 I owe 244,000 = my concerns if I do a ( heloc) rates could change in the future because of our current economic climate vs cash out refi ( my concerns my rate will go up because my current rate is 3.25 % which I got obtained when I lived in the house as a primary residence.