Quote from @John Underwood: This is why my deposit is always higher than the rent.This encourages the tenant to pay the last months rent and clean the house so they their higher deposit back.This tenant has lived in the home 4 years and has gone through multiple increases.  

I’m looking to maybe invest in Louisiana (where I’m from) being that the cost of living is so low.

It does have a subscription plan that can give you additional functions.

Unless you have 20% and have additional assets for reserves and PITI Reserves, on top of a strong PFS. 

Additionally, I’m unclear on how their ARV analysis is conducted since most properties can be found on Redfin or Zillow — does it involve an in-person visit, or is it purely data-driven using comps and suggested repairs?

So if you buy distressed and build in some additional equity via the rehab you can cash out when securing the long term debt. 

An additional benefit of a detailed engineering-based Cost Segregation Study is that it can increase potential insurance premium savings as well as provide support for the property tax appeals process.

Rent out any bedrooms you aren't using while you live there to generate even more cashflow. 

In addition, I am looking for a HELOC or home equity loan.

HI Saed,There are several ways to run and make sure you are maximizing your rental income while keeping your living expense as low as possible.