You would lose out on some of the tax advantages, but then also wouldn't be paying property taxes and insurance on two residences that aren't being used for investment purposes. 

Seems to me a lot of big players spend 6 figures per month on sophisticated marketing campaigns and dominate the market with another smaller group who do a few deals a year followed by about 90% of "wholesalers" who don't do anything.So I'm curious, why wholesaling?

I think you would lose a lot of users.Mark

We are hoping to make this a crucial learning experience, so whether we succeed, fail, lose, or gain, at least we took action.

You can have a great property that cash flows, has good tenants and overall a good investment. 3 blocks away, you can lose your shirt.

I had to call him back several days later after losing sleep over it and let him know I could not in good conscience keep the pricing structure Brian offered, and Brian was not interested in having his name on the contract.

Are there any weird laws in Florida where if sellers stays on as a tenant, can I lose the property?

You would probably need to hire a lawyer and you are likely to lose much more than the cost of a utility bill or two.You may also want to have a conversation with her to explain your situation. 

I want to take a Heloc but always was scared of it...I want to open it just in case, sort of like if I lose my job, etc...1) Do I understand correctly, if I open a HELOC but do not borrow the money, then this I do not owe any payments to the mortgage company?

When issues came up and I was losing sleep at night it was really nice to be able to drive to the property to help mitigate problems.