HELOCs are definitely a good option for financing BRRRRs.

Purchase price: $150,000 Cash invested: $90,000 Bought as a forclosure gut job.

Any other options you guys may suggest if you've been in a similar situation I'd love to hear it ?  

I'm an investor and mortgage broker and have options for loans that go as low as $75,000 and down payments as low as 15%, which makes it easier to stay above $75,000.

Previous owner bought it for $71k in 2022 (OOS LLC), asking $89k, ARV $135-150k.

You don't have to spend a fortune and buy a house directly on the beach to do well, but your starting price point for a viable option in this market is around $350-$450k for a solid 2-3 bedroom oceanfront condo or around $500k for a 3-4 bedroom house within walking distance of the beach. 

You KNEW about the problem, got compensation, and bought anyway.

Again, the BiggerPockets store has some books on this topic, or you can learn about it by watching podcasts, reading blogs, and interacting on the forum.

Believe it or not, these things actually impact all parts of the housing market, not just the new home sector.Again, to truly weigh the options in front of you, I would suggest having a Realtor do an evaluation for you, and give you a pro/con rundown of each option. 

From watching the market and myself investing in Bryan/College Station, people are still renting out these properties nicely.They can be leased as a whole or rented by the room and are usually in great areas, close to the university, grocery stores, and restaurants.