-you don’t have to pay interest on a large fixed sum of money until you find or are ready to pull the trigger on a deal-it allows you lock in some or all of the amount at a fixed rate so your protected against rising interest rates ( given the current market conditions I believe we will see a couple more increases from the Fed this year which will increase borrowing costs for any variable rate products)- See this attached article that does a good job of simplifying it https://www.investopedia.com/mortgage/heloc/fixed-rate-option/

@Jeremy Taggart I'm still a newbie when it comes to the finer details, but I believe there is a limit on the value of the VA loan you can have.

I'm really excited about this deal and i believe it could be a real life changer.

We didn't have a final walk-through because he left town (he won't be moving across the street for a few weeks).In addition to leaving a big ugly mess (including rocks and turtle crap in the bathtub, which i mention only because it's original) and leaving behind huge furniture in this third-floor apartment, there are two much bigger deals:1) I believe he has sabotaged the plumbing.

He has also replaced the ductwork and I believe upgraded the AC.

I believe my main focus will be on houses that are between 2-3 bedrooms with less than 1500 square feet as I would like to keep as much of the effort "in-house" as possible, as well as keeping purchase prices around $20K and selling prices around $60-80K, with renovation costs at between $10-20K for materials as well as a new roof with a contractor- unless I start putting on my own steel roofs which I can do myself.

I believe a real estate attorney would be able to help set you up with a purchase agreement. 

Accent the healing qualities of the water if people still believe that... 

I believe that prospective rent on a 3 bedroom in this area is probably in the $3000-3200 range, while prospective rent on a nice 2/2 in the same building is probably max $2700.

Bond for Deed must be French Law.. never heard that term in my 44 years of real estate.I am assuming its a debt instrument like a mortgage or deed of trust.Zero % financing is great.. as long as your not paying double what its really worth.with those terms it leads me to believe that the seller is tired of managing this and the management could be Hi touch lots of work.. so if you think your ready.. that s a pretty decent deal in my mind..