When rates go up HELOC payments can go up quickly.

The location is great, and it is tucked away nearby a main strip, so easy access to gyms, restaurants, movies etc..  

I did some quick calculations and I'm very interested but at the same time I'm very hesitant.

From what I've quickly read up on it doesn't seem like you need a license.

If I can not get access to the property, I will assume anything built before 1982 will contain asbestos/lead in common materials (based on my experience there's a 90% chance this is the case).I believe Texas requires any "contractor" performing ASB abatement to have a license, which means Texas has some regulations established regarding removal & disposal.In California, if you are the property owner you can perform the removal/abatement yourself (assuming SFR), the only requirement is that the asbestos waste be bagged up & taken to a designated facility (in my case in Santa Barbara there is a facility at UCSB where homeowners can take the waste at no/minimal charge). 

In his YouTube videos he makes it seem so simple to find a house with equity then quickly flip it to purchase another house.

Seek legal counsel or the right answer.There is no quick fix for dealing with a flooded house.  

Getting your real estate license can certainly be worth it, you can get access to your local MLS, and perhaps you can earn some extra income being an agent. 

Unfortunately, I don't qualify.A note fund would be an interesting solution, but I don't think I yet qualify for that.The $11k would actually be 2018 contributions.I'll have to look more into the other options.Thanks again for quick input!

I am wholesaling with my partner and everything is doing well for us and we are persistent and progressing quickly.