(Naturally, I assume you only touch the money for further asset purchase or development).I am not a lawyer or CPA, but if I look at your example and pretend you would be able to do the exact same deal again, you could buy #2 BRRR and pay the $50K cash from your property#1 HELOC.

You never know, the squeaky wheel gets the oil.

Well im naturally amazing at sales.

Now I feel like I'll have to keep an eye on the house more...i love dogs, but ,in my OPINION, their nature is destructive to what we consider 'nice'.

It could be just the nature of the deal, putting it out on MLS since craigslist is not drawing anyone. 

Also, even though flood insurance is not currently required, I would still factor it in as a precaution since Mother Nature has a peculiar sense of humor.

Here is my suggestion: look in that area for places you can house hack (rent out rooms not houses) as many people need to be there for short term and often single men not families due to oil work.

Coming from oil and gas; if my wife would agree with me; I would deploy all my capital there. 

If you would make a list of things I hate, understanding what exactly is the nature of a lien on loan I am about to buy would be right there at the top :) Is it against the current borrower?

Often, because of the nature of the Condo Assocation, your Insurance Company may want it submitted to the Assocation first to determine what parts of the claim they will be paying.