And it often works because they are often working such long hours they are almost never home. 

Typically will be rent by rent strategy (which is tough for none owner occupants) or College rental.   

Tell me - someone selling their home to your son, Subject-To - is this a person who has made good life choices? 

And could even get a second home loan if doing traditional financing.

My question: Is using a HELOC the best option, or should I consider refinancing my home for a 25-year term and putting all my rental income toward it?

-Will it be robust enough to track additional business expenses that are NOT tied to a single property (IE; Business insurance, Home office, ETC?)

Purchase price: $80,000 Cash invested: $80,000 This is a reno- adding a 1 bedroom unit to a three family home.

The housing crisis saw record numbers of foreclosures of single-family homes in Maricopa County in 2010.

I don't care if 99 of 100 homes in the area have K&T, I would NOT buy it and leave it with K&T anywhere.

From there it is really just a matter of determining comps, cost to rehab a property, and your timeline.I have helped several investors flip their first home in Austin and learn how to do it effectively.