why wouldn't you just leverage the 2 houses for the rest? Or

If the cost to restore the property exceeds their deposit, you send them a bill.

So a little bit about what we do is we work hand In hand wIth home rehabIlItators In the area that specialize in finding and restoring homes.

Also, is it best to just take out enough for the down payment and repairs and let a bank handle the rest or buy more equity using the heloc money to hopefully get more monthly cash flow from the rental to pay down the heloc?

Desirable neighborhood alll restored Bungalows (including this one) I mean there are about a thousand of them, block after block ....any ways everyone love it everybody raves about it yet no sale.

For example, we have reviewed restoration bids where they tried to charge more for usage of equipment such as air scrubbers or dehumidifiers than those units cost new. 

Thanks guys, the input is appreciated, I'm wondering, generally, do electricians and fire restoration company's charge for an inspection?

Bank will loan funds to renovate...20K can turn into 40K easily with leverage and a good eye for deals..Research, Prepare, Inspect, Buy, Restore, Resell...Repeat...

Even if your home is not historic you might fluff a tad with some history, who designed it for example and to restore and up date this fine home it was relocated from its original site....might sound better at 200K.....I'm sure you will be good at the sale side of this, but it could be an issue.

My 1st flip was a cute little brick ranch that had lots of character left in it and it was fun restoring it.