No management costs as it would be self managed, and estimated property taxes by the average of the past few years.

Do you have the experience to avoid these?    

It's essential to do your due diligence and perhaps consider investing in more established or upcoming neighborhoods.Property Taxes: New Mexico's property taxes are relatively low in comparison to other states.

Will the property taxes skyrocket?

I assume your wish to use a HELOC is to avoid paying interest when you are not actively rehabbing a BRRRR.

If they say "No" then ask them to support that with documentation to avoid a boiler plate response. 

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

If my target would be low income residents, are there any grants, tax credits, or funds available to help me with the conversion? 

If you provide any kind of substantial services like catering, car service, etc you will change you tax situation and no longer can file under Schedule E.

Low barrier to entry, low taxes, landlord friendly, and areas that appreciate + cash flow.