Part of the reasons hydrants didn't work was some water storage was already depleted for maintenance. 

If they work independently, set their schedule, and use their resources, they might qualify as a 1099 contractor, but misclassification risks IRS penalties.Wages for W-2 employees and payments to 1099 contractors are both deductible business expenses, but compliance is key.This post does not create a CPA-Client relationship.

With the HELOC and then converting it to a term loan you will probably be paying higher interest and/or shorter amortization period on conversion which will mean higher monthly payments.

Will all of your vendors take a credit card as payment?

The property will cash flow $500/mo or more after all expenses and cap ex reserves, as well as the payment on the SBLOC.

The interest only payments aren’t getting any cheaper.

There are cases of local governments delaying payment due to budget constraints.

If you're using financing, evaluate how a rate hike could affect your payments.

"reinvesting the full proceeds without financing or using leverage to enhance returns is key"So I cannot use it as a down payment for buying a place with financing?

Later she was unable to refinance, and the ex-husband kept making payments for her so the property wouldn't go into foreclosure.I would highly suggest to your friend to contact Noel Cookman DURING the mediation process, not after.