It's beneficial to get something closer to the west side of Lafayette because it'll attract graduate students from Purdue (just be sure to do proper due diligence with screening).

In most places you need to honor the current lease, however when the lease is up (at least with a normal tenant I'm not 100% if it is the same with Section 8) you can give proper notice that you will not be renewing the lease.

Couple things Im looking into:1) I am still discussing with my CPA but am looking at traceability options to ensure my HELOC interest is deductible under the new Tax Law 2) If I max my HELOC how is my credit score impacted --> how high will my interest become as I look to obtain refinance on a conventional mortage (delayed or 6month full refi)Overall, I think pull out what you need.

I can create a much greater ROI if I PROPERLY invest in real estate. 3.)

I am in the process of adding additional buildings to it.My point is keep analyzing until the proper calculations are second nature.  

The bathroom must have a 5' turning radius, the sink must be wall hung or open cabinet( 34" to top rim), the toilet must have the proper grab bars installed and at certain heights, the flush handle on the toilet must face the side that has the 5' turning radius not the opposite side.

What do you use to keep track of your expenses to ensure you stay on budget for a renovation to flip a home?

Some people will give the Seller 30-60 days extra where that is held in escrow - but the truth is that if you are clear and up front with them when presenting the contract, it won't matter and is not necessary.Finally, the reality is that if you do proper diligence and have a reasonable feasibility period (e.g. 2-3 months is standard for any commercial property) then you will be fine. 

@Rob Gillespie I have an opportunity to strike on an 8 Plex in East Cleveland, any chance you could be of any assistance in trying to value this one properly?  

Aside, of course, for not knowing how to properly analyze.