I also asked about any plumbing issues, which I would get inspected during the due diligence phase, along with other major concerns.While I don't have much experience assessing houses and determining the extent of repairs, I’ve spent a lot of time in stores like Home Depot and Lowe’s.

Look at how many people are doing seller finance right now lending money at stupid low rates and not taking the cash...

Should I put heloc on the 3-plex due to the current low rate and use the cash to BRRR?

This probably sounds a little like wholesaling or being a Realtor, and it is.If you don't want to spend $1,000's to build this out and take on the associated tasks, there are other, more cost effective, options.I'd recommend looking for potential deals via free (or low-cost sources) i.e. local meetups/networking, Courts (probate & lis pendens lists), Realtors, Wholesalers, properties for sale online (especially those with 90+ days on market), etc.All the best!

Given that the house is paid off but has $27K in back taxes, you could offer to cover those taxes upfront in exchange for favorable terms on the remaining balance—like low (or no) down payment, and small monthly payments.You could also negotiate for a subject-to deal where you take over the property subject to the taxes, while still securing control of the property for your BRRRR strategy.

I've been focusing on fourplexes as a first investment to spread vacancy risk but the inventory in my driving area is pretty low.

That's mostly because we already get the 4% residence tax rate for your primary residence, which is a very low tax rate.As long as what you purchased is commercial, you can apply for it.

Then decorate the place up, nice lighting, signs, etc.Then you can move the needle. 

This way when they try to low ball me I have my own appraisal ready to go.Or - should I just request a PMI cancelation from Citizens bank and wait to see what their appraisal comes back at.Or - am I going about this all completely wrong?

This home had a HUGE delay that cost us thousands of dollars.The group that put in the underground plumbing dug the plumbing too low, and by the time we caught the mistake, the slab had already been poured and the septic tanks installed.We had to dig up the septic tanks, install a lift station, and reinstall the septic tanks.This all happened during 2 hurricanes, which caused even more delays.Time kills deals.This is why you need to 1) be conservative with your timelines and costs, 2) add contingencies to your budgets, and 3) have a healthy profit margin.