Other charts, graphs and information from some big real estate players makes sense that real estate will not take a big hit during the next recession.

That part does make some sense, especially since the first property we're looking at is out of state and it would cut back on legal fees to just file in that state. 

@Joe Ellis Makes much more sense now.

Of course if your area is not conducive it makes sense to look elsewhere.

And to your last sentence, I'm not sure there is a workaround to avoid mortgage lending rules, especially if your loan is to a borrower who is also occupying the home (given how sensitive the CFPB is with owner-occupied loans).Sorry for the segue...https://www.nolo.com/legal-encyclopedia/whats-the-...Abel the description above by Shiloh makes zero sense as you know.. a mortgage and DT are the same thing just different names basically and a note is either secured or NOT secured... can't be both  LOL  ugh BP sometimes some really bad info floats around here.

Does it make better sense for me to get a HELOC for a 100K for the purchase, and use 30K from savings to do the rehab, or, would it be better to use a HML for all 130K, i.e., what are the considerations? 

The "upside" would be the profit in the joint venture.To me if this is an 80/20 situation it probably makes more sense for those interested just to bid at the sale and see if that $100k+ can be wiped out.

Again, I like other markets like Raleigh, Austin, Salt Lake city, Vegas but when the numbers don't make sense; I don't want to waste my time.

It makes sense if you want to have a career working for or as a LEED consultant.

Maybe nobody wants to lease that empty Toys R Us space to sell widgets ... but it might make sense to build apartments or condos there .