Experience is a big one, which he has, so good there. 10% post-close liquidity is a common requirement."

They also do not use most Heloc's since its "Not" a liquid reserve instead its a debt burden.

If the methodology of the appraisal is sound, and the property income producing, quick sale or liquidation value can usually be assumed to be 70-75% of appraised value, imo.  

I have a good job and substantial investments but want to avoid liquidating assets (as I believe my investments have a lot of appreciation in the coming years), or paying the mortgage out of pocket every month.

SFHs are great because they are faster to liquidate if your need quick money (generally close in 30 or so days).

I have to explain to the the capital requirements to acquire an asset like that which would be 60k+.For projects under 100k purchase acquired at 80% leverage you can figure needing 25k - 30k in liquidity for all the costs of the life cycle of the project.If you start acquiring in that 150k range, that lifecycle can go to 40k/50k needed to make sure you can handle the down payment, closing costs, holding costs, any miscellaneous costs that pop up and then still have a cushion in the account cause you never wanna be down to you last dollar.One of the first questions I ask new clients is what kind of capital do they have behind them, because that number will determine market and asset class. 

HELOC bank doesn't want their line used as a term loan on real estate they don't have collateralized and the bank that you apply for a loan for doesn't want your down payment to be borrowed.If you wanted to get the HELOC for home improvements then decide to draw on it for liquidity, had it sit in a bank account for a couple months and then applied for a MF loan and used it as the down payment, you'd have to answer no to the question, "is any part of the down payment borrowed".

Competitive Edge: The immediate cash flow available from a cost segregation study could give you an advantage against competitors as you may have more liquidity available to purchase a new property than those who aren’t utilizing cost segregation.

Do you guys recommend using a sentricon bait system, or a termidor SC liquid trenching and drilling application?

Meanwhile, the PM  could be spending, liquidating or moving assets from her or her company's name, which will make it harder for you to recover any money owed to you.