When you sell you will receive selli price minus all liabilities tied to the house (The Heloc, the $30k deferment, and the original loan.) you can use that money as a downpayment or to do repairs/upgrades on the new property. 

And most are not ponzi schemes.Per the SEC and FINRA, some typical signs of a Ponzi scheme are promises of outsized returns (which is necessary to have a Ponzi scheme function since it needs a constant flow of new investors to avoid collapse), promises of impossible things like guaranteed returns and/or failure to disclose the true risk of an investment (to make the claimed high returns seem more plausible), etc.

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I had asked them multiple screening questions prior to the showing and then toward the end of the showing and out of nowhere they asked if they could receive a discount on the first month's rent so that they could buy new furniture... living room, dining room and bedroom sets. 

If you're using contractors and getting multiple quotes, they typically can buy material at better prices so I'd let them.

It’s typically 3-5 years but can be bought down/out completely depending on lender and state.

So the good one's will typically have their brokerage license by now because of their many years of experience.

I will say at these events there is typically way more money looking for a place than there are actual startups with a good plan and outlook in my opinion. 

For that reason, I focus on looking at investments with value-add opportunity, and thus turnkey properties are less attractive to me.My metrics, then, are typically if my purchase price, remodel costs, and holding costs are less than 70% of the After Repair Value, it's a good deal for me!

We would be co-owners of a 12 unit apt house and each receive a SFH separately through our father's will (currently in probate).