I thought I had an issue with some of the work he did and he had a tech come out the next day to rip up some shingles in investigate the issie.

Ask also for cost for finishing the rest of the job.If you file a PayPal chargeback claim, you can probably get your $$ in the near term (while it awaits investigation). the contractor will hate you, may file mechanics lien against the house, and his payments to his employees might bounce.Contractor's general strategy is to keep your money and work extra 'for free' to fix anything.Maintain a strict quality.

Please keep in mind that you may have prepayment penalty in your state.One of the main problem is that the interest rate is variable, so you really don't want to be in a position where you have to keep the money out very long as the rate could climb up.The other problem I have heard of but haven't had time to investigate further is that, apparently, the bank can call the HELOC at any time, meaning they may ask you to reimburse all the money they gave you at one point if they feel like it.

I need to investigate the feasibility and cost of doing this further though and confirm it would be okay with the township...but if it could be done for under $20,000 which I think is very doable, that would be a great ROI I think.

MLS / Population * CHI :)I think from my brief investigation, I found that Denver is .0015 which I know is a tough place to be... 

Some are under investigation as I type this response.

below is the answer I got. it cut and pasts backwards.. 530 Center Street NE, Suite 100, Salem, OR 97301State of Oregon - Real Estate AgencyFrances Hlawatsch | Financial InvestigatorBest regards,Thank you again for the information, if I have further questions for you during the investigation I will certainly reach out.The Agency is well aware that unlicensed “wholesalers” are rampant in our jurisdiction.

After I have time to investigate the property more and find out what the real expense data really is then I can adjust my projections.The same applies to determining CapEx projections.  

I don't know what the rehab costs would be ultimately so I guess that's worth investigating, but based on the rent alone and the mortgage, I think it would potentially be a negative cashflow.

Good luck on the investigation,, as far as running any type of drainage.. we were cautioned at our property when we put the sump pump discharge hose to the front yard so water would drain into street and go down into the sewer grate.. we were told by city we couldn't do that and they suggested we put in a underground tank reservoir type thing.. basically all we did then was move the discharge hose to further point in back yard.. it was a flip house so we only had one season to deal with the issue.So don't do all the digging work and then find out you can't revert the water to the street and have to yank it all out.. if you do a drain tile type thing to edge of front property line.. water is funny you want to control where it goes but it has a mind of its own sometimes.