I would also suggest that you google the owners name and the word obituary and your city/state.

And really all the security they seek in the 1st place... so in other words their position hasn't changed.

Balance is certainly the right word here.

Also, I'm in CA so deals tend to be a bit more expensive so cheaper deals would be out of state and any words of caution about doing a first deal out of state. 

Just a word that using a HELOC on you personal residence means adding debt to it.

The area is a fairly small town in the path of progress so I'm sure word will spread. 

In other words, they'll give you your $150k (presuming you qualify otherwise) not $225k.

But, those rules of thumb and shortcuts will be specific to your location, the types of houses you're doing, the finishes you use, the types of contractors you're using, your negotiating skill etc.In other words, the shortcuts and rules of thumb that I have for my houses in my area with my contractors and my finishes and with my negotiation ability are going to be different than yours.Learn the process, practice, and it will get easier.  

Any words of advice are appreciated. 

The Question:Why would I get contractors on site to give me quotes on what needs to be repaired if they don't know what is required by FHA(or do they-Do they get the last word?)