Why not bring in additional LPs to reduce each LP's ownership percentage?

How much time/energy are you willing and capable of spending?

Find ways to make more money, reduce your debt, and increase you credit core your buying power will improve. 

Waited until this sat on the market for a month and a half and the price reduced 5K.

I know there’s many ways for me to get what I’m wanting.In regards to my age, yeah, I’m aware I’m still pretty young to be focusing all my energy on real estate.

We invest a lot of time and energy into these forums answering questions and helping investors for free.

Because you will be "overpaying" the "mortgage" it will snowball equity, quickly reducing your interest burden.If you did nothing else but deposit the whole rent payment into the account each month, you would pay off the balance in the HELOC within 10 or 11 years.

If your contractor and the current tenant showed you enough to make the deal a "no go" for you, then you should be able to terminate the purchase agreement (and only lose the DD money...in NC).I like the idea of getting quotes on making the repairs, and presenting (still, within the DD period) the seller with the problems, quotes, and a request to reduce the price by $xyz....or, you could just decide you don't want to deal with the property since it has xyz issues.  

Minimal HOA.Assuming that rent, 20% down payment, 50% vacancy rate, the cash flow would not be super, but one of the main reasons for my interest in real estate in the immediate present is the effect in reducing our taxable income, rather than for providing replacement income.

Like any investment, I understand that real estate takes time, energy, money and substantial knowledge in order to succeed.