For the next two months we kept looking and eventually found one and could have it installed for $1600, which wasn't bad, but we already spent more money than anticipated on the kitchen.

I think we can remove the stove from the attic to make this FHA compliant.I actually have not SEEN the inside of the property yet because it is nearly impossible to get a showing (uncooperative month to month tenants, even the seller's agent has not seen the inside yet) so I am assuming the worst and anticipating a full gut. 

I converted it to 10 year fixed rate HELOC at 3.25% because I anticipated rates to increase over the near term.  

How much time will it take to achieve the anticipated upside at this point in a cycle?

@Matthew Rayl The opportunity costs of borrowing from your TSP or any retirement account is generally much greater than people anticipate.

I'm only looking at this Fannie Mae type option to save money over the course of our holding period, now that we're anticipating owning them for life.

We anticipate receiving a gross sale amount of around 155k; however, the net profits will not be this much.

I’m a licensed agent in IL so anticipate I’ll be listing the property but none of these properties are on the market, yet.

Is that excessive or is that what I should anticipate ?

the units are currently occupied so I anticipate little to no repairs beyond cleaning the carpet and pressure washing the outside.