Baseboards, couch cushions, above fridge, in cabinets, grout/caulk lines, rug maintenance, air filters, windows inside and out, dust the top corners of windows, corners of high places etc etc.  

Then, at that point, why not just join the MLS for a few hundred dollars more and have access to comps and tax data?

There are a couple hundred builds planned for this community but this would be one of the first few.

Also the majority of those costs to covnert to a 2nd unit will need to be capitalized and depreciated, but some things (new appliances, flooring, paint, kitchen cabinets) can be shorter year assets vs. across the full 27.5 and IF it turns out that unit is > 50% you can use bonus as well on those items.

By using HELOC funds instead, or even a zero-percent credit card advance with a 4% transaction fee, they are effectively using the CREDITOR's resources instead of their own money to accelerate mortgage loan payoff (at a "cost" of a few hundred dollars per year).

Hi Tom, I would reconsider taking out a full two hundred thousand dollars for a HELOC unless the numbers make sense in terms of possibly making that money back and paying off the loan. 

It needs everything: all appliances, cabinets, flooring, tiling... everything.

.  :-) Congrats on those deals  I just have not wanted to take on hundreds of investors.. my one I did we raised half the one you mention ( 7.5 mil)  with only 6 investors so On a very personal level with each..

I've underwritten hundreds of deals, submitted tens of LOIs and not had a single one accepted- The BRRRRs I did do weren't true BRRRRs because of low appraisals, or not accounting for all costs properly and I ended up leaving around $10k for each one in the deal.

Block construction cement floors with the floors sloping to a central drain. concrete counter tops stainless kitchen cabinets boob lights and minimum windows by code .