This approach will help preserve your operating capital.

Quote from @Guillermo Perez: Can someone please let me know if this is ok for my first BRRRR.I got a $200k HELOC on my primary residence to help fund my first BRRRR.

The guide should help you out in that respect.

Are you trying to refi to pull out equity or something else?

Something to consider to is that if you are able to refinance after the addition and pull out some or all of your new investment and the cashflow still makes sense then by all means I think go for it.

The rental income helps you but the way its calculated it gets harder and harder to qualify unless you are a high earner otherwise. 2.

As a rental, tenants will likely prioritize the location over minor inconveniences.Your strategy of betting on appreciation and eventually pulling equity makes a lot of sense in this market.

If you did a full repipe and gutted the entire property then I assume (in all that means) that there were permits pulled and this should have been caught when the inspector did their rough in walk through or atleast the final occupancy inspection. 

One metric we do use when we're able to pull the data are permits pulled & what type of permits pulled in an area.

Ohh but wait most of you on here all probably well off and can afford to help out a relative.The other issue with SCI is that when they first took over their maintenance of the park was poor at best (snow plowing, grass mowing).