It does wipe out first mortgages, home equity loans, HOA liens, etc.  

Two cleaners, plus my wife and I and help from our 3 kids worked each day around the workers to clean, replace furnace filter, replace bulbs and batteries, mop and wipe all surfaces, throw out trash, move furniture, re-hang pictures etc.Don't think I want to do that again soon.

If it's a foreclosure sale then most liens are wiped out or paid by the proceeds of the sale. 

It is very disturbing how many dead ones will turn up.I've read also that the baby roaches eat the adult's crap, and that the poison also transfers along through that.One key to using Advion is to NOT spray or bomb right before or after.

Extremely high turnover, no flexibility for added wife or baby.

During certain market cycles and in certain markets, of course you are right that equity can give great returns, but also periodically people just get WIPED OUT!

I know I’m a little late in the game but want to make sure I can retire peacefully, make sure I can provide for weddings & more grand babies to come.I do not work, my husband works, we just tried to get a HELOC on our primary residence was pre approved got  all the way to the end and they just wanted more then I was willing to give.

Thanks @Samuel Eddinger, @Nick Gray Congratulations on the new baby!

Our interest payment to the HML was $3,000 alone, so carrying costs can wipe out any profits if one isn't careful. 

The great thing is that with VA loans you can use 100% of the lease amount to wipe out your DTI of loan on the property, as opposed to conventional or FHA can use 75% I believe.