Does the property you found need any rehab? 

If the rents were collected after closing and they were not addressed in the sale, then you shouldn't have a legal obligation to give them anything.

There are definitely great properties at that price but they're going to need major rehabs.

We are looking for Class C to Class B, distressed property (hopefully type-2)but any distressed, undervalued property to rehab so we can rent out. 

The discrepancy so far (5 addresses) has ranged from very little (under $10k) to as far as $100k in difference.

To get any cashflow I think I need to be looking for something around $250K, that doesn't need a lot of up front rehab, to give me enough extra for closing and reserves, and in a submarket that will gross 3000/m.

Get a real email address.

The same basic principle applies in situations requiring a gun only multiplied 10X: if you draw your gun you've already lost and if you're in a shootout you should expect to be shot.To address the actual question though "What is best, concealed carry, open carry or no carry?"

You are WAY better off saving up and using cash for the rehab than trying to pay down your princlple and using a HELOC.

One issue that I have not seen addressed, is the cost of the home, which will greatly affect your cash flow.