Am i wasting time doing this or is it a good idea??

Would it be the most cost effective approach?

@Nicole Richards Many of the answers you are looking for can be found here: How to Effectively Conduct Joint Venture Agreements as a Real Estate Investor596231-how-do-i-properly-construct-a-purchase-with-a-partnership591376-create-an-llc-for-first-partnership-best-way-to-do-so526244-taking-on-partner-s-and-limiting-our-liabilitesGood luck!

Just like in our market permits cost 40k per houseand the planners and city gods wonder why we can deliver a house for 200k all in  not possible in our market 300 to 350k is as cheap as you can go.PS I tried buying warrenties when I was buying 50 to 75 court house steps houses a year.. waste of money.. 

Now for the question: in the new tax law, effective Jan 1, 2018, I understand changes have gone into effect regarding the ability to deduct the interest of HELOCs.

I have many offers on the property @ $1600 and $1500 respectively that i'm sifting through.assuming they don't all fall through i'm in effectively for no money out of pocket and $3100 in cashflow - the mortgage which should be in the 2k range after the refinance.  

One more thing to consider with a HELOC that could have effect on the deal you are trying to use it for.

So what you are saying effectively is I started negotiations within my 45 days identifications period.

@Gene Hacker No I didn't pay any fees but I can't help to think it was a waste of time. 

@Thelma GreenThis is likely a waste of time.