But it’s simply not about money, it’s about life.A good friend of mine, who was born and lived here all of her life until a few months ago, who is a very successful lawyer, is into outdoor sports on one hand, but is also a club-going urban dweller on the other, and who recently moved to Seattle, summarized the Bay Area the best, in my opinion: there’s a lot of everything here, but everything is either shallow, mediocre, or so overcrowded that it’s no longer accessible or enjoyable (e.g.: Yosemite).Seattle is not that much cheaper than Penninsula.. 

So, to summarize, we're having some rent collection issues but are hopeful that we will eventually get it all.

To summarize your post, the math for a first lien HELOC makes sense as long as you're disciplined and committed to the strategy.

His tone on the phone changed & he told me I was not qualified to say that & then he ended the call.The below summarizes the program & money they asked for, there were 3 levels of entry:30k gets you (12 private one on one calls with Peter Harris, 4 weekly calls supposedly as long as you are in the program) & there is also 20k & 10k entry points, each with less calls as described above.You split the profits with him 50/50 until you reach 1mil profit then supposedly they will pay you back the money you invested into the program. 

Showed a couple of youtube videos summarizing rich dad poor dad, then had the kids play the cashflow classic game online.

@Russ Mooneyhan, to answer your question, and summarize a lot of the responses below: No, there is no specific tactic that people use.  

To summarize, WSHFC is a non-profit dedicated to helping every Washingtonian own their own home, and this program allows us to take out a loan with 3% down, then get 4% down payment assistance so the cash required to close is super-minimal (as little as $6,000 in some cases, depends on the purchase price of the property though).This strategy works really well when you can combine it with house hacking.

But, that has nothing to do with legality...that has to do with a deed restriction enforced by the attorneys closing the deal.Now, for any REO contract that doesn't specifically include a deed restriction on the resale, there is no law being broken by purchasing and reselling the property, even when it's done at the same closing table.Now, let's summarize...You claimed it was "illegal" to wholesale REOs.

Summarize every conversation that isn't in writing and have dates.  

To summarize, I'd digest all the information, study the data and then access probabilities to each possible scenario, viewing it from the lens of your own beliefs.