It is still in DD and I can still walk away depending on what price they are willing to come down to.

Caveat...all depends on what you know but with the 50% rule showing negative, the need for you to dump 72,000 in it,  and your optimistic outlook only showing 6%, i'd park my money somewhere else and look for something better.  

In my opinion,  it could be a good choice, depending on your situation.

Depending on the deal we may need partner with my parents who are very interested since we have done so well with the first one.

This question depends entirely on the local market and the local market is what will answer this question.

Pick different potentials in the same investment market...run the numbers before and have a list of what you need to know or look at, then run the numbers after...depending on the property and intent use one of the calculators on this site for every one...work it as and then use the tool to calculate what it would need to be  --  if they are the same then it might be the right deal.Once you have this then you can move to other surrounding markets easier...just make sure you adjust your assumptions to align with that market.One final note and this depends on your area, here in FL you have to account for what your property taxes "will be" not what they are. 

In fact, I have a deal you might be interested in and I'm looking to connect with a few remodeler willing to come out and give dependable bids on the wholesale deals I'm creating.

Yes as long as the owner on title wants help then you can potentially support them depending on their goals.

It depends on what Thomas goals are (are you looking to pay your mortgage the fastest or do diversify your investments in hope of generating wealth?)

Definitely agree with Aaron about talking to a lender first, but I really like the idea of a heloc and having the ability to use it for investing, pay it off, and then continue using it after paying it off or down...but I guess it also depends on the kind of investing u plan on using it for