@Michael HoustonSo cap rates are for commercial properties so they have no use in 1-4 unit values.

Is this an intended BRRRR deal or just a value-add? 

What brand on Airbnb would even have enough perceived value to make it all worthwhile?

This will consist of finding a good deal that requires some work and is below market value, and making sure your contractor is accurate with the budget and executes the work as stated in the contract.

One has no mortgage, their other has a HELOC for around $20k remaining and is coming to its 10year term that was established before placing with LLC.My predicament is how/best way to pull equity out of either property for a down payment for the 3 family that is valued around $450k.

You’re right about the value of leveraging equity strategically. 

How did you add value to the deal?

Again I am not advocating for this company and each person needs to do their own DD, all I am saying is I appreciated someone seeing something, calling me on it and having a conversation about it. if @Cheryl Abram  lost 100% of her investment then these must not be first position loans.. as even if a rehab fix and flip fails you still have SOME value in the assset its not nothing.

@John Hickey Awesome move to create some more value.....How did you find the plumber and I just want to be clear the plumber did all that for what you said in the earlier post great....

We discovered problems that required a lot of work and significantly reduced the property’s value, forcing me to lower the price.