I suppose I have it in my mind that I'm only able to get a LOC after I've appreciated the property, let it season, and then pursue an appraisal/refi.

Never hurts to have options, I suppose?   

I suppose in the end, it paid off in saving my life.Allow me to backtrack, back to the beginning, two years ago.

This is a tool that is supposed to achieve a competitive advantage in the marketplace, which will allow you to outperform the competition.Thus, if you are OK with me being nice, I'll repeat myself and tell the newbie OP that I think your tool is fine to use and learn from.

For example, the 2nd to last photo of a random wall and floor with part of open door; what is that supposed to be telling?

Try this:For this example, let's say you have a 1st mortgage at 3% for 30-years where the principal balance is $150,000.Now, suppose you have a HELOC with a $35,000 limit, 3.75%, interest only.

What started as a promising BRRRR ended with us making the tough decision to sell at a loss after an unexpected disaster.The Numbers:Sold for: +$230KPurchase Price: $115KClosing Costs: $3KRehab Costs: $105K ($49K original rehab, $56K additional repairs due to the car crash)Holding Costs: $31K (12 months)Selling Costs: $16KInsurance Claim Recovery: +$25KNet Income: - $16KWhat Happened:This was supposed to be a BRRRR.

The excavator is supposed to come in the next two weeks to clear and widen the existing driveway to the top of the hill and a site in back for a shed.  

I suppose it is a good piece of information to be aware of going into the deal.

If they did what they were supposed to do, the properties you could rent to them wouldn't be anywhere near as cheap as they are.