If you've never done it and never looked at properties anywhere in person, how will you know what any of the numbers even mean? 

___________________________________________________________Why does everyone want to chase strangers – and ignore their own personal network?

I’ve only had 1 person look at it.

If a person has to ask, at all, I STRONGLY advise to use a PM service for tenant placement. 

What I don't like about it personally - this seems like a very risky move.

Based upon the cost seg studies of my clients, a building will typically yield 25-30% of the total cost that can be segregated into personal property and land improvements.

It started with really buying my own personal home, then selling and making a small profit.

If a person has RCV or ACV policy makes a huge difference, than question of what coverage level people had and if they had policy add-on's that cover cost over-runs and all that fun stuff, not to mention contents. 

With respect to paying $44k off on your HELOC, I personally think that is totally fine and a great start. 

We actually just had several go in on Livingston ave on the west side where I'd not normally think would be desirable, but they look great and really brought the block up.So I'm a huge fan personally from seeing them go up in my own area.