Got into the home with a low down payment , made repairs, rented and refinanced to pay off line and eliminate the PMI.

Since you just starting to rent it out I would include the down payment and any major repairs you have done.

They have since moved on to a new manager that is in close communication with me to get the repairs done and SDIRA is even offering to pay me the missing rent for December that the evicted tenant never paid.

. $6000 repair. 

In real estate its messy and there are always repairs and capX projects that seemingly pop up from time to time.

You will have holding costs along the way with repairs, maintenance, taxes, etc.

I feel as-is, I can get around $120k after cleanup and some minor repairs.

The property is livable, but I am account for a pretty significant turn in 4 - 7 years of paint, flooring, and any miscellaneous repairs that the inspector could have missed since it was occupied.

You can get a HELOC if there is equity in the property most likely, which there should be since you own it in cash, but you will just be decreasing your pay out and then may end up short in repair money, depending on how much it is worth.

I use $2500 to pay expenses and save what's left in a fund for repairs etc...So I can count on approx 5K/month in gross income.