For instance, so far from a school, close to children that are not of his bloodline, etc.

With the amount of HELOC funds you have available, I would recommend using this resource to fund the next deal.

We’re in Canton Ohio and want to buy near decent school district.

I joined the real estate club at school and plan to set up a meeting with the head of the real estate department in hopes to establish connections that way.

. $500 ea. in profit after loan pmt , taxes & Insurance and a small amount for maintenance fund are taken out.  

That means looking into the median income, school system, linkages(proximity to employment, shopping, churches, etc). 

Purchased at $220,000.Sold               $345,000First Mort      $163,000HELOC             $47,000Selling Cost     $15,0000Net Proceed  $120,000  (50/50 split )Each has $60k in separate 1031 exchange fund.

In Texas according to my attorney it would be a deduction and not a mishandling of deposit funds which is taken very seriously in Texas and most states. 

I would like to own this building outright some day, but the immediate priority is I have multiple homes under construction and need the funds to pay for my share of the new builds (have investor/partner on these new builds).  

Walk away.In order for the lender to obtain the necessary capital to fund that loan, it has to pass an initial environmental survey.