For example: If I bought a house for $200K, and the quote to construct the very same house in the same location is $300K, then the value of improvements should be considerably high ($200K) and the value of the land be considered negligible (closer to 0).Of course this helps depreciate more improvements in the life of the property, but I would like to hear your thoughts on whether this logic would hold up with IRS in the event of an audit.What do you think?

As I pay off the remainder of my bad debt and solidify my credit in order to qualify for a HELOC, I’m on the hunt for trustworthy people to team up with in Indiana, Kansas/Missouri, Tennessee, South Carolina, and possibly Texas.

So how much is your w-2 income and your total mortgage debt/car/credit cards?

Seems like my best choice now is to find a responsible mid-term tenant that passes background/credit check. 

In that case maybe the best thing to do is let them continue more or less as is until things take their natural course.     

I of course have to mention appreciation in Winston, looks like the average annual appreciation rate is sitting around 2.86% since 2000.To conclude Winston-Salem is an area that if you flip, you should be paying attention to.

Depending on your credit score and a few other factors, you won't need a ton of cash if it's your primary.

Don't think it will be a crash as credit underwriting standards are much higher now than they were in the early 2000s. 

I will most likely be using a HELOC also.I have good credit and quite a bit of equity in my primary so that is my way out.How far can conventional borrowing take an investor before the banks stop handing pit mortgages?

I'm not quite there yet myself as the acceptable low barrier criteria credit score is super low.