Our initial plan was to hold it as a MTR (medium term rental) but decided to flip instead in order to fund the purchase of our new primary residence.

Can't speak to the organization in Michigan but generally the benefits of a well run STRA far outweigh the costs.I am a property manager in Hawaii so we are constantly being hit with new anti-STR legislation and have a large, well-funded hotel lobby to deal with constantly.

I’m in the mag industrial fund and I would invest again… which I did in the mag Broadview in San Bernardino area by the college.

What would be the best use or strategy with a 75K HELOC to fund an investment property? 

Both parties have agreed on price however seller needs max of two weeks after closing to move out since they need funds from the deal to move. 

But get an LLC and rent from it personally...any cleaning expenses, paying your mortgage etc. come from the LLC's bank account, any outside money that you need to fund the account will be a capital contribution and then you will be able to do cost seg on that property.

With $100k, focusing on properties that offer high rental demand or flipping potential could allow you to leverage your funds effectively, especially in your booming area. 

You can get the rehab funds and you can get cash against the As Is value to put in your pocket.

I'd recommend shopping local since local HMLs would be more likely to fund your deal.

Not an issue for everyone ( mine is 800) 3 For down payment  there are  down payment savings plans ( I have an IDA) In addition there may be additional 1st time or income qualified grants available  ( in my area its up to 60k- if the funding is avail) Also non IDA savings and gifts ( from what I hear) could be used.