Is it perfect — definitely not!

Everyone else is transaction based and walks away with the commission when the deals closed.

Especially #4 about durability.Do you charge your clients a flat fee based on size/price per sqft for your services, or % of spend?  

Yes, they will do many things better than you, but some things it's not possible for them to be as attentive and quick responding as you.Also, no one's perfect, so keep tabs on them in general.Regarding holding or selling: why did you buy this in the first place?

Based on the growth in that area, I suspect I will be able to refinance within the 5 year window and not require any cash into the deal. 

Below is the monthly average number of preforeclosure leads based on number of filed NOD, NOTS, LP occuring per month (from 10yr of data from recorders documents).

I agree having 100K or some sort of reserve based on the deal/rehab in your HELOC. 

Since you're in Texas, I'll use a town like:  Each town will be different based on the population living outside of town. 

Since the rent roll was too low, she had to secure financing through a private lender that based the loan on market rent rather than the current rent.

HELOC on the TH you're living in sounds the most doable (banks have more appetite to lend when it's owner occupied).Two cents - HELOCs can be great, but it is still debt and you'll want to make sure your base case expected return makes the juice worth the squeeze.