Depending on who is closer, I would try to pretend to be a solicitor and go door to door on everyone's unit if you can to get an idea.

Well - I am pretty sure if you don't make the first three payments the mortgage company you use would be buying the loan back.So your not just messing with yourself but the mortgage company.You have listed a lot of "Lets Say (meaning lets pretend?)

I'm not accountant, and I don't pretend to be one on tv.. so hopefully others will chime in shortly, but I don't think you'd pay taxes on a draw from a HELOC used to pay a debt.

At first his family pretended that they would pay for the damages and would work with me. 

Question 1: What loan - you didn't specify you had a loan in your example.Making assumptions, using your example, and pretending you put 20% ($5k) down on the home and have an original $20k loan:Fix up house, house now worth $50k. 6 months - 1 year from now cash out refinance. 75% of value = $37,500 loan, $12,500 left behind as equity in the house.

For now Pretend no debt is owed.

I do management myself now.I once had a PM company manage a 4-unit, and they didn't give a crap about renting the place out. and when they did rent it out, they would still pretend it wasn't rented, and pocket the rent themselves, AND charge me maintenance fees.They screw both ends- the renters and the owners.

Pretend I'm placing it in the market place and you were the buyer, what would you want to be told?

They have lost the SEO battle and have been buried by IDX vendors pretending to be the actual MLS.

Pretend you are the judge, you have an owner on one side (who didn't run the property).