If your using financing the bank requires this.

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Quote from @Lolo Druff: Just like turn signals, you should always trust, but verify that the seller is telling the truth.Your offer to purchase should include a requirement that the Seller provide all documentation and agree to sign an estoppel certificate (also called an estoppel form or agreement).

Either way, it sounds like significant renovation will be required.

If the deposit does not cover the charges, then you should consider whether you want to pursue collecting the unpaid balance or write it off.You did the right thing, and the tenant's behavior proves you were right.

Most fail to paper the contracts, indemnification and additional insured requirements correctly.

Self-managing the STR has some great tax benefits if you meet IRS requirements.  

If you are planning to pay the HELOC back after each flip but then draw it right back out to buy the next one, you will have a loan balance most of the time and a refinance might work just as well for you.

They said that kind of project would basically convert the property to an apartment building and requires R6B zoning.

A license is only required if you are managing property for someone else.