If there isn’t significant equity capture at this purchase price, and it’s not in a great location, this would be a pass for me.

Deal 2: Duplex (older home that needs TLC in good location)Purchase price: 120k, Rehab 40k, Total all in: 180kExpected Rent: $2,400/month to $2,700/monthDeal 3: 5 Plex (is that even a word?

It's calculated as the ratio of your total loan amount (loan amount for purchase + loan amount for your rehab) to your total costs (purchase price + rehab budget). 95% is a good target.Avoid application and other upfront/junk fees. 

The last house I purchased was $227,500 and we put down $85K. 

I have been a Union carpenter for four years now and enjoy working physical labor.

Purchase price will be around $400-450K. 

I have a followup question - I will realize a lot of capital gain from this home in Idaho, so I think unless I purchase a new primary residence I will have to pay that capital gains tax. 

I have used HELOCs for probably most of the purchases of the properties I own. 

Its usually called a post-completion or post-purchase mortgage.

Quote from @Yash Shah: Hello everyone,I'm new to this group and would love to hear your thoughts on the pros and cons of purchasing a corporate or bank-owned home.