My only concern is that I don't want to speculate in a market I'm not that familiar with yet and manage from out of state.

In addition, I don't see many institutional firms attempting to sell their inferior interest in the open market as it is problematic and bad press.All that makes me want to conclude this is more of a private firm or person specifically looking to take advantage of an unsuspecting buyer.There is a little speculation on the existing mortgage which is causing the hold up.  

In the realm of real estate, the investments range from speculative land development, to foreclosure funds, to large commercial fix and flips, turnarounds, new construction, and even water rights.

They're actually speculating and betting on appreciation.

I encourage all investors, speculators, carpetbaggers and mostly good people looking for a peaceful, easy feeling at a good price to at least take a look.

Presently I buy hold and rent several houses in emerging markets and speculate on several developed 1/2 acre plots in established developments near the bay in south west Flordia.  

I hear a lot of speculation about why it won't work or wouldn't be as beneficial, but does anyone in the community have personal experience with a HELOC deal which didn't pan out?

@Michael S. is right, most of the great deals currently are in Harvest, Athens, Decatur.I am personally looking at some parts of decatur right now as I feel that some of the growth in Huntsville might flow into these areas but again it is just speculation.

@Michael Yan A deal that is "hoping" for cash flow in year one, and again "hoping" for cash flow in year two tells me this is not a good deal, you should never be "hoping " for anything is a deal, if you don't have solid numbers in your deal you're speculating and hoping this turns into a good deal over time as you hold it.

Just speculating.