Good market or not so much thx 

You may also be able to "make your market" if you can hit a critical mass.

I do not have 5 layers of management that make my rates higher, no lender I work with pays for my office space, licensing, benefits, marketing department, compliance department.... 

Last year, I purchased a SFH under market at 7.65% interest rate and did some rehab to up the value.

Quote from @Kevin Hintz: I can totally relate to the tight market and how hard it is to find deals.

So don't beat yourself up, it's not you, it's the market.

This setup ensures every project stays on schedule and within budget, which is huge in a market where timing is everything.3.

Right now just working on market knowledge in my college town.

Hard to say if it’s a good deal without the most important piece of data, what is the fair market value? 

I also wouldnt let your mom go into 2nd position on an investment property with any sort of restructuring; it doenst sound like she's in a position to risk being wiped out.Overall, though, if you want cashflow on the new property but cant achieve that after a refi into a market rate loan, it probably makes more sense to just flip it, pay off your heloc and your mom, and use the remaining capital for the next deal.