As others are noting, it's important to run your numbers and would probably only recommending pulling from the HELOC for short term opportunities.

If the building is currently recognized as a single family residence,  then you are changing use and presumably will need to sprinkler the building and satisfy other fire rating and STC rating requirements not to mention the added costs of having to run mechanicals for multiple units, multiple kitchens, additional bathrooms etc.  

I’m curious, though—have you run into issues with the due-on-sale clause in Subject-To deals?

It's possible to run it as a great business, but not without capital.

I purchased $4m Dec of 2021 and have one unit left to rehab (starting it Dec 1 and my 22 year old son will be running his 2nd rehab - it will be a live-in rehab so slower than we usually achieve).  

Quote from @Jared Appel: Hello BP,My name is Jared Appel, recently relocated to Chicago by way of Miami, and diving head first into the BP community to start my real estate career.

I'm running BRRRR deals through my modeling sheet and none of them ever come with positive cash flow.

Has anyone had any success negotiating a lowered payoff for a medicare lien on a property headed for foreclosure auction? 

Will raise prices as we get near 85% full or by size, as we run out of units of that specific size.

Unless he’s a wholesaler and runs a wholesaling business.