Would it be reasonable to approach the HELOC lender and ask them if they would consent to me renting out my house for one year while I live in the rental (as per the boldface above) ?  

Is he approaching foreclosure?

The only thing I guess is if you cant sell the home then you head for the hills or you are using that " subject to partner or 3rd party approval "  card trick.You might want to approach sellers from a different angle. 

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No better, no worse.Yes, the rental market here is incredibly tight - I've also been experiencing the 50 responses to an ad / I'll offer $X over asking for just about every turn the past 2 years.

@Joe DaikerThe Rollover as Business Startup what Mark mentions appropriate if you are looking to personally start a real estate development company and produce current income for yourself.If your goal is to achieve better tax-sheltered growth for your retirement savings by investing in what you know, a passive Solo 401k would be a different approach.  

If you are interested in finding Mentors, I recently wrote "The Ultimate Guide to Finding Incredible Mentors"- check it out!

The support on this site is incredible.

Hi @Irina Balueva - I think that mentors can be an incredible blessing to investors - I've been really lucky and have had some great ones myself.I definitely struggled to find some great mentors myself, however, and I think that my experience could perhaps be of value to you!

Hey BP,I was out yesterday doing some shopping and the owners of the store I was in approached me about selling their other location.