I currently own my primary residence and have about 60k in equity.

That means either you won't cash flow or your Return on Equity (ROE) will be terrible.Since this is your primary residence you'll be exempted from paying capital gains taxes when you sell.If you sell to your parents, it will be considered a non-arms length transaction and will get closer scrutiny.

300k purchase + 10-15k closing + 80k remodel + 5k for refinance costs. 80k remodel number I got from my father who is a general contractor in the area. 500k ARV x .80% refi (because it would be my primary residence) = 400k minus 15k closing, 80k remodel, 5k refi cost = 300k my original purchase price.

HOWEVER, it's primary appeal is affordability rather than being a great or cool place to live.

A 1031 exchange is NOT available for owner occupied property so that’s the bad news.The good news is for owner occupied primary residences, for married couples, the first $500,000 of pain is tax free.No need to worry about a 1031, live in the house, sell it, use the $500,000 exclusion and you pay KP tax on whatever profit may exist,2.

Quote from @Stuart Udis: Not creative, but good real estate and traditional financing is almost always better than incredible seller financing terms and lousy real estate.

I have decided to look into a heloc, I'm a bit newer into realest state investing, I have completed a couple of fix%flips this year, I currently use hard money for the purchase with 10% down and I cover 100% of the rehab, with that said even just doing a couple of homes at a time, I find myself around 200k out of pocket, I think it would be a bit easier on myself and wife if we utilized a heloc vs just cash, my primary should appraise around 1.1m and my mortgage is 640k, I'm looking at pulling about 250k for a heloc, I don't want to refi the home and cash out as I only want to pay interest on funds as I use them ( I know I won't always be using the heloc cash) Any advice or even knowledge for people in a similar situation, and anyone have a referral for a Heloc?

I’m not sure why traditional agents offer any special litigation protection.2.

Hey Ed - this one wouldn't qualify with DSCR if one of the houses is your primary (assuming all are on the same tax parcel).

@Raj VardhanI agree with @Evan Polaski regarding the 6-Month Seasoning Rule: Most traditional lenders require a 6-month holding period before you can do a cash-out refinance.