Chicago is a good market right now for buying cheaper than you could in the past.

The homes are cheaper in El Paso than most places.

People should recognize things never get cheaper (which is why now everyone should roth 401k that savings because I would rather pay taxes on it now than in 30-40 years)... 

A Trump win would loosen up energy policy which might mean cheaper fuel to ship goods which will trickle down to lower prices for goods, but he didn't curb spending as much as you might think.

It could be cheaper to tear it down and start over. 

It is older, but I think that might be a plus as properties will be cheaper, and people know it already.

If I sold this I would just buy my deals in cheaper areas for cash.

BRRRR is great but chances finding a deal and getting all your money out with light rehab is slim to none unless you find your own lead.I operate in Baltimore in C+ areas which is still cheaper than many even wholesalers are overcharging for their off market deals.You either have to do heavier rehab or find a deal without a middle man.

if your confident in the deal HELOC will be far cheaper than HML..

Being honest I thought it will be easier and cheaper, so first recommendation is to check with the city if you will be able to pull a permit.