If you are planning to use a HELOC on the rental properties as a source of cash to purchase another property, then consider that the total of the HELOC and any underlying loan balance can usually not exceed 75% of the appraised value of the property.  

You understand that grandmother had equity in the property and a fair purchase price would be more than just the unpaid balance on the loan? 

I am thinking if I can get Freddie to assign the deficiency balance / judgment to me then I can go to the owner of the subdivision lots (yes same owner as the foreclosed lot) and trade her a full release of the judgment in exchange for the lots.

Make sure to get an estoppel from the seller that the tenants sign stating any unpaid balances, prepaid rent and security deposits.  

Many can also take loans from their 401k plan of 50% of the balance up to 50k.

That's right, even if your LLC is the borrower, Capital One will report the balances and payment history on your personal credit.  

Accounting classes will only teach how to make journal entries and balance your books if you work at a company (nothing wrong with that).

i think that most of them have specials on the setup fee, balance fees, and transaction fees.  

The screens are not intuitive and Buildium does not define their data points well so it is very difficult to move data from another software because so many of the data points are ill defined.My ledger started each property with thousands in debt even though my ledgers were balanced and there was not debt for any property at the time.

I know that it is impossible to answer that question without detailed numbers, but my general question is how do you balance being selective and waiting for a great deal (but having your money on the sidelines) with the advantage of putting your money to work for you sooner on a good (but not great)  deal?