Just to reiterate, probably good to have a bookkeeper/CPA preparing your books in addition to the work your PM does.

Hi folks, I have some comments/questions regarding how to best prepare when applying to a heloc.  

Will they be prepared to address retirements and disposition?

How much in legal fees to prepare for?

What is the best way that me as a potential customer can prepare as much as possible to get the most accurate estimate from a general contractor before talking to any of them?

To increase our potential deal flow for fix & flips, we're preparing to start direct to sell mailing campaign.

The LOI provides clear written and agreed terms to help prepare the contract.Sales Price, Due Diligence period, financing terms, Who is paying what fees, what you are requesting for due diligence (leases, financials, maintenance schedules, etc.), Hard or Refundable Earnest money & terms for that, broker representation, title company, attorney info, etc.Best wishes to you. 

Talk to your tax advisor/preparer to see what type of a loss if any you can take regarding a negative impact from the sale.

My partner, Will, and I are preparing to get into flipping in the Berkshires of Massachusetts in the coming 6-12 months.

Perhaps, your PMC needs a better lease or an addendum to cover issues like this.PMC should send a warning letter that clearly outlines repurcussions of what will happen if the tenant doens't comply.YOU must be prepared for the tenant not paying, requiring eviction and any potential retaliation damage to the property.