@Nathan Frost typical for Detroit, that's why we offer our clients several security options, including removing & storing mechanicals when vacant and then reinstalling day tenant moves in.What makes you think the seller will install new mechanicals?

What I typically see investors do to get rolling is use a Heloc or cashout refi on an existing property to get the startup capital they need.

A HELOC will not allow you to deduct I believe on the interest unless the money is utilized for repairs on your primary residence and not to buy another home. 

Here’s how brokers typically view these:Loan Term Sheet vs.

For example, in some cases even when the home is livable a seller might turn off utilities on a vacant house to save money.

Be careful it does not go into default : mature as the fees pretty much typically double

If I could, pick your brain a bit more, how much do you typically set aside for things like CapEx/Vacancy?

Seasoned investors using commercial DSCR loans for the refi are typically completing full BRRR's in 3-6 months.

Also the investment typically has less risk.

Home sales typically decrease during the winter months.