There is a BP book called the "book on flipping houses" that talks about all the major systems and repairs required to flip a house and some rules of thumb for costing.

Some charge me yearly others are 3, 5 or 10 years but I can’t think of a scenario this would work me unless I inherited a $500k IRA or really wanted to manage all these accounts & fees & IRS contribution & withdrawal rules or I took on a large gamble investment for a 30 to 100% return & got into active market again like flipping houses, etc.I guess I would rather pay the IRS less than a company like Quest IRA?

One rule you can use is the 70% rule,  which says that you should only pay 70% of the after repair value minus costs,  In this case applying that rule means that you should pay  (70% of 140K) -80K = 18K Personally I think that you might be able justify a little more than that like an 80% rule but you are buying it at 100=% and thats a bad idea

Don't be surprised if a lot of what you are taught by that trainer does not apply in PA or Philadelphia.

I just wasn’t sure if this scenario fell under one guideline or another or if anyone in the Denver area knows of specific rules.

I think it may be over priced as it doesn't pass some of the rules of thumb I've seen on BP but it's about a close as any of the properties in the area get.      

Similar to RRSPs, you can pay yourself out slowly when you are older to reduce taxation.Always good to check with an accountant to be sure what the rules and regulations in one's area is.

Recently I applied for HELOC to buy another property and got rejected since they thought my DTI was so high.

I even assumed you had to live in the property for a year before you qualify for Heloc,, but I have found that you can apply 1 month early if you sign something saying you will make subject property your owner occupied within a month,..

I'm applying for a HELOC tomorrow, I've made up my mind!