With a 100% FREE & CLEAR property -  should have no difficulties getting approved - presuming you have current income to make payments.Don't get bogged down in Analysis Paralysis - but there are some positive changes coming in Texas HELOC (Proposition 2 on Texas Ballot - voting tomorrow) should give you ability to borrow more of your equity. 

Per your questions on other threads too, you might borrow against (say, 75% of) your equity.The trick is: buying properties that will both: keep going up in value, and cash flow positively for you, even when leveraged at 75% of their value.

Its been a few months since this post-but has it still been positive?....

Would the fact that no permits were ever pulled have any impact on the appraisal?

I know there are positives and negatives to this strategy.

Do any of you investors that have flipped property in slightly more rural areas have any experience with this and how it has impacted the sale? 

Was the second position not sanctioned by the lender and they are now refusing to refinance?

This positive experience has turned me onto real estate and other related opportunities.

So far my experience with USREEB is less than ideal, but I am positive and going to give them benefit of doubt, at least for small issues. a) I feel it is not easy to get information from them.

The cash flow numbers are the only positive numbers I see in LA, so I KNOW it'll make money.