Older installations were done over regular drywall rather than cement board (Duroc) which was very prone to deterioration.

I want to see if there is a local lender/banks that have a program where they would be willing to allow an investor to open and deposit $50,000 of their money into an escrow-like account, while giving investor a line of credit of $500,000 for real estate investments.Do anyone know of such program or have willingness to venture this route? 

I listen to podcasts regularly.  

A traveling sales man can probably store boxes of toothbrushes and brushes in the garage without any unreasonable concern as he sells the inventory on a route, a bit of judgment applies, certainly he can't store lawnmowers in crates or bathroom fixtures or gas welding supplies.

I believe one is called "Credit Boards"  Get some credit somewhere and pay it off regularly on time.

Korean American, I hear the same kind of talk even now as I'm investing as much as I can into real estate while holding my regular job.  

finding a turn key company where you are getting a good return is a pretty good route. 

I have started a blog here at Bigger Pockets to channel my thoughts and track my progress in our journey so check in there for regular updates

can you please post your process like J Scott does, I'm actually going that exact route house hacking using the 203 k loan. 

They have REIA meetings regularly.