Today it has good cash flow (~$6k/month using 49% expense ratio) and is up ~$1m above costs.  

You'll want to incorporate interest costs on the HELOC while you're using it, but that will add to your holding costs in addition to utilities, closing costs, etc..

the other one I just had a small 1031 did a tic with one of my long time partners who owned 100 units almost next door ( I brokered him those) so he could have his existing PM take over and we set it up on a 6 year payoff NO cash flow neither of us need cash flow we just want free and clear..

It has a free plan that I think will meet my needs.  

Purchase price: $325,000 Cash invested: $2,485 Sale price: $335,000 Low upfront cost due to creative financing.

They are about the same cost (which surprised me) but for a rental property that is really probably mostly for pets, I'm concerned about maintenance and upkeep.

They often pay out replacement cost value (RCV) for damages.DP-3 (Special Form): The most comprehensive DP policy, DP-3 offers "all-risk" coverage for the dwelling, protecting against all perils except those specifically excluded in the policy.

Mod Building if done right cuts your carrying cost and your installation time making it more affordable. 

It's a free market. - You will finally get a tenant. 

For me I am free pretty much always now:)