"  $475 for an attorney is not a bank breaking amount and yet can save you from a lot of future headaches and expensive mistakes.  

., you had a city inspector come out to inspect the property as a possible FUTURE rental. - great job, that’s a step in the right direction IF you were to no longer claim the property as your primary residence and to operate as a business!

Yes I could instead spend my investment money on a half-million dollar home and luxury cars but instead I choose to invest and take chances to set my family and I up in the future.

Limited monthly cash flow, but maintain good rate of principle reduction at 15K and say appreciation of property at 2% a year.Shortly after joining the Army I was interested in using both retirement accounts (couldn't contribute to TSP then) and real estate to prepare for the future. 

@Jabari Jones, my question is: would the (future) rent coming in from your current home cover the the HELOC repayments (and other property expenses) once you draw out the full amount?

@Vera Herlihy Definitely looking forward to crossing paths with you at a meet up in the near future.

Are they also "reserving" monies for future major repairs?

If I exit in the future might just break even or get some profit.2) second deal is single family 3 bedroom at $49000 %15 percent down, same area near the college rented at $700 that brings $8400, tenant lease is month to month.

Added to basis" means not deductible but reserved for the future.

Leaving $35k in the deal for the foreseeable future means: Not really a no brainer].