So far we have been to East Texas areas, loved the country feel.

Drew:  I own a debt and equity firm that arranges financing for commercial and multifamily real estate across the country.  

I agree with the $100 rehab'd to $200 cash flow numbers.

I agree on the infinite, I just found out when applying for a loan.

@John Thedford I was agreeing with you.

I talked with my CPA and one lender on here, both agreed 75% of the gross income from rentals is all I should use in calculations.  

For the Investment Property, yes i agree that you cannot do HELOC but you can do a HELOAN.

However, the new rental is a new property to me and while I'm doing everything I can to have all the pieces working, I might miss something.I have had a vacation out of the country scheduled for about 9 months(before I even thought about buying this property).

Nothing or very little down is another contract flaw, financial consideration must be reasonable at the price agreed to, a promissory note can be used as consideration so you can retain your cash.

If I was to offer an investment vehicle that guaranteed an agreed upon return which would be backed by Real Estate (SFR), the local Government, and an option for a company buyback if the homeowners didn't pay the agreed amount:1. would that be something you would be interested in?