I am new here looking to get started in the Wholesale scene of Tampa, FL (in hopes of relieving some of my student loan debt).

Also, a negative cashflow property will have a negative impact on your debt to income, making it more difficult to get further financing while you are waiting for the Austin market to increase rent.

For insurance it can depend on location, how old the house is, what the construction of the house is, if you plan on getting full rebuild or just enough coverage to cover the debt service.

per year that cash flow (NOI - debt service) at around $24,000 per year.

Wont the debt, regardless of whether you are using the funds, hurt your DTI?

The second reason is to eliminate the MIP of $/225 month.

Otherwise, you will be on the hook for clearing those debts up, too.

This is why I love real estate, no other investment vehicle that I know of that allows you to eliminate unavoidable expenses while still making money. 

I wouldn't bet on any appreciation in a "war zone" but what you can bet on is debt pay down and cash flow. 

hi everyone,my name is Antonio M. i am from NYC. i have always been very interested in starting a career in REI. i currently work for a major insurance company doing auto damage assessment in NYC. my wife and I currently own a 2 family home. i joined this site bc i want to soak up as much information as possible. my wife and I have comfortable decently paying jobs but we are a bit burdened with college loans...our current goal is to pay off all debt so we can focus all our money into purchasing cash flow producing real estate. i hope to learn much from all of you here and soon start setting up a good future for my 19month old son. if you could take a look at my first post it would be great. https://www.biggerpockets.com/forums/12/topics/608311-newbie-have-idea-of-using-heloc-to-supercharge-my-rei-start