@Keith Angell I'd say you are on the right track with the HELOC. 

Are inspections needed before and after the work?

Sometimes a sewage line will sag over time due to settling of the surrounding soil.

The tax paid from your lending proceeds should be the equivalent of your tax rate I would think.

We bought a new build years ago (and sold it 3 years later when the market turned up) and our TOTAL cap ex was $550 over the 3 years. 

Once they are leased, then you can take over from there.There are several software options if you want to self manage.

They need the help more than VRBO. 

Good luck at the auctions! 

Also, I’ve noticed that the unknowledgeable persons who are most likely to be suckered into spending time and money on these “programs” all have a basic gullibility that leads to them making comments that have remained remarkably consistent over the last 40years.  

Keep in mind that the sponsors with the longer track records and deeper bench of investors are unlikely to use some of the newer exemptions.