@Christopher ChunnWelcome to BP from Newbie in the Bayou area of Houma, LA.This is a great place to be with plenty of support and information.Just reach out when you need help.

I did check into what the area is supporting for rents and I'm confident I could get around 1300-1500 per month for the home.

The foundation is also a bit of a concern, as it's secured with wood beams, and those really should be metal or have metal supports attached to them, I would think.Now, we are revisiting the deal.

Unless that car itself is somehow supporting a business which generates its own IRR, this plan in no way makes any sense.Car loan is almost always going to be cheaper than a HELOC. 

You are advocating the volume sales approach, like McD's, sell a million at $1.00 profit and just smile.The problem is, the work effort to support low profits is the same as that required for high profits. 

Bigger Pockets is great for surrounding yourself with like minded people and building a community of peer support.

At that point you will receive many things you are not getting right now such as training, support, networking and the ability to earn money in many more ways.Many folks believe that you can be an "investor" or a "real estate agent" not both.

You will also need a lender commitment letter for the balance, unless the bank/investment account can support the entire purchase price.

Like I said I wont make a killing money wise but really just getting out there and completing the process once has taken that fear and allowed me to HARNESS it for the next project into a healthy excitement rather than letting it run all over me like I and many others have done in the past...

Nonetheless, the buyer did pay a price that would likely be unprofitable if they sold today for 120k repaired.On Emmons, I think the buyer got a descent deal, and I would have purchased it around that price range.I think the buyer based their purchase price on an ARV of around $135kThere are a couple of comps that support that price, including 1713 Arther, 3201 Tonopah, and 2617 Reynolds.In addition, that neighborhood has an absorption rate of about 40 days for properties that size.