Account Closed, can you get an equity line on your existing house, use it to buy a new one, pay it off from the sale of existing house?

As I work to make RE income replace my W2,  I I've been studying and analyzing larger apartment deals (attending Michael Blanks forum next month as well) and MFP's. 

Beginning this year I have been aggressively studying financial independence and more recently been drawn to real estate.

Why do we need a disinterested 3rd party account?  

His account is closed on BP.

Leaving me with $197,000 liquid to put back into my account for something else. 

This is why it's best to talk to an accountant.

and the seller will know it includes land use  utls  market study any number of things that go into developing property for resale. and if there is an agent involved they will know.once you do your due diligence then you come back with your findings and tighter terms  .. in our state you must have a pre app meeting which are very useful... these usually cost 1 to 3k per pre app.. and you need to have your mock up of what your proposing.. good to have your civil with you..

It all depends on how your accountant filled out the 8824. 

I'm interested in lending money out using a self directed RRSP or TFSA account (I'm Canadian).