I am looking at your number.

Im self employed, roughly make $130k gross anually, 1099 NEC , no debt at all, 740 credit score. 

Then the seller gets that exact amount for the property at times (it's a low percentage but it happens).

I didn't buy there when I could have gotten them at $5k per side in 2012thst whole area is rentals.

Since you put 5% down and the appraisal came in at $160K, your available equity might be limited since banks usually cap HELOCs at around 80-90% loan-to-value (LTV).

Not sure what you've experienced, but we've found many contractors at Home Depot. 

Homes Are OverpricedHousing could be overvalued by anywhere from 10% to 35% based on how investors are actingThe stock market is pricing portfolios of American homes at a hefty discount to what houses are changing hands for in the open market.

7% is probably good for projections, but I would ask whatever bank you're planning to go with where they're at and factor in an extra 0.25% to be safe.

Background on me: I need to obtain a graduate degree for promotion at work, but it can be in any field at low-no cost to myself.

Do it yourself and get good at it.