*The cap ex is only so low because there is no garage, fireplace, pool, washer, dryer, garbage disposal, the windows are small and single pane, only one door per unit, no real landscaping to upkeep, they are entirely brick,  and there’s a metal roof.

I am finishing up my masters in real estate development and have many resources at my disposal.

Don't spend all of your cash to dispose of a debt if the debt is still paying you.

Get disposable work gloves and wear clothes you can throw out if needed, remove as much as you can. 

Don't forget, you have to dispose of the asset or refinace in 5-10 years, what is that going to do to your returns if the market is softer?

I have about 10k at my disposal and am trying to get my first investment property under my belt. 

But you have to qualify for Medicaid, and they look at all assets, including any disposed of in the five years before the qualification. 

My opinion is that we should get as much as possible so that we can pursue a wider range of possibilities, and so that we don’t come up short on any potential deals that we may want to pursue.The difference in the in interest rate between the 80% option and 90% option is a quarter of a percent, which does not appear to be a pro-forma breaker, especially since we are using the HELOC as a bridge loan until we can complete the rehab and seasoning before refinancing into a conventional 30 year loan.Other than the difference in percentage on the HELOC, can anyone think of reasons why a disciplined investor would not want to have a larger line of credit at their disposal?

Welcome aboard @Clark ScrogginSounds like you have some great resources at your disposal.

I have a client looking at a 12 unit apartment building, 12 stoves, 12 fridges, 12 dishwashers, 2 large water heaters, 12 garbage disposals.