(Big assumption, I know).I tried to find the Net Op income by applying a 20% vacancy factor, 2014 property taxes was $5,700, estimated maintenance $3,000 and insurance of $1,500.

Advertising, cleaning and maint, insurance, legal, repairs, supplies, etc... 1) Because property #1 wasn't "on market" during the renovation, does everything apply to the basis? 

If you tear down make sure WSSC does a toilet count on the existing home prior to demo, this can save many thousands when you apply for the new water service.

IRS makes determinations on a lot of things, but there are standards that apply even in the grey areas.I would love to argue a case against you if you were trying to prove that flipping one wholesale property constituted an active business.While the IRS could rule on anything they wish, I'm very confident that the 1-2 properties I mentioned is below the threshold that would be considered an "active  business".

To what extent that applies I don't know.

if you applied with major bank it takes forever..I have 600k equity..great income..775 score..and wanted 200k heloc and it took 6weeks..large banks with mortgages and helocs can be very frustrating with time, and it will only get worse with different guidelines in the future..good lick

Everyone has heard of the Federal Reserve "Stress Test" for large Wall Street banks, but many of the same principles apply to us as real estate investors. 

So i recommend looking into the state you are interested in and see how the laws apply.

From reading many other threads, I understand the Do Not Call list does not apply as I am trying to buy something from them, and  that topic has been covered in some depth in other threads.

But if you want  clients to start hmm registering, applying for something or doing business with the website that would not do and probably will be some extra services at a cost from them.