The most successful preforeclosure investors I've met largely focus on being there at the end, when the owner has exhausted all their options and is truly about to lose their home. when I was active in buying this asset class it ALWAYS happened within 24 to 48 hours of the sale.. its at that time that the owners realize its do or die.. 

If you used the HELOC to pay for your rental business activities, the interest would still be deductible on IRS Form Schedule E.

We're looking to network with other investors and become more active within the BP community.

Note though can only have 1 FHA loan active at once as was discussed earlier in this thread.

It's another tool in your RE investing toolbox, and you need to learn how it complements the other tools you have and how to use it properly.Plus, you should separate your asset holding entity from the active operations/property management entity.

Markets in greater Chicago area that are pretty active and potential.

That's in a sense is the question, how difficult would it be to claim QBI status for your mgmt activity, but not for your rental real estate activity - i.e., to avoid the offset? 

Do you want to be active or passive ?

I don't plan on engaging an agent I did a similar (not exactly) transaction 20 years ago and recall it wasn't too hard.  

@Cameron McCown there’s 1 more other property I’m eyeballing & currently active .