I am no expert so I am hoping for some insight.

Not on the tax question but just in general you might consider that the PM is not the expert on what roof repair/replacement to do.

I'm no tax expert, so make sure you talk to your guy or gal first.

If you put yourself in the field and make yourself into an expert, someday you will find a great property, have confidence to put it under contract, and already know which investors you will present it to as a possible joint venture project.

I'd need a several hundred thousand dollar HELOC to be comfortable drawing on it to finance a downpayment on another property (I'm pretty sure a conventional loan would make more sense, but again I'm not an expert).

However, there are others to be considered:Capital: when wining tax sale, payment must be certified funds.

CPA stands for Certified Public Accountant.  

Thank you sir, ive considered trying to get hvac certified this summer too so i can do that aswell, i have no desire to learn electrical however as ive been shocked one too many times and dont care to get shocked again, but i agree its a shrinking industry which is good for us younger guys , my only concern is rising interest rates ruining my plans before they even get started

Maybe the experts can share which areas in Detroit that they highly recommend these days...

They're the experts...and have the power.