I havent delved too deeply into finding a local contractor for the job which i meed to.

So if you buy right you add more income to your qualifying scenario, if you buy wrong well then you are digging a deeper and deeper hole or you'll have to just make more money in your day to day job to counter your paper loss on your qualification side of things- With commercial loans they look at "global cash flow," and they generally want all of your cash flow including your job, rentals, businesses, etc to usually cover all your expenses by 1.25X minimum so if you have negative cash flow rentals or are buying wrong theres no guarantee they will lend to you.

It's Home Equity Line Of Credit, not Rental Equity LOC.Dante, they  are the same, a portfolio lender holds the loans they make, but hey can sell them as well, a commercial  lender usually holds as well, but it gets much deeper with participation loans where one lender may "sell off" part of a loan.You can't cash out on conventional secondary market non-owner occupied loans any longer,  you'll need to go commercial, a bank may do so, but they will not be "booking"  the loan on the residential side.

Very excited for our future conversation and looking forward to diving deeper into detail with you. 

I would keep using the 50% rule as a starting point, and then for an opportunity where the numbers look good at 50%, dive in deeper and get the actual expenses and income. 

You'll have to dig deeper depending on the properties you find but it will give you a good market overview. 

I will dig deeper into land value in the area.

My accountant seems to be very knowledgeable & diligent, but it seems that the deeper we delve into the nuances & interpretation of the specifics of the tax code, the more unfortunately my tax liability increases.By the way, I should have mentioned in the details of my initial post that while we are 'buy & hold investors', in this specific case, the property was held for < 1 year - we sold into a market that had a voracious appetite.  

After reading many BP threads, I'm looking deeper into the Communipaw area of Bergen-Lafayette, trying, of course, to get as close as possible to public transit.

I´m sure this has been mentioned in Podcast, books and blog posts before, I was hoping that someone could just clear the fog quickly and before I dive deeper into the strategy.