Im doing a BRRR in Chattanooga area and was wondering who you wound up using for your Builders Risk insurance and if you recommend them? 

SO, at least the BP calculator has little suggestion bubbles to give you a hint if you truly have no idea, otherwise, at least start ball-parking the water bill, for example, based on your current water bill at your residence.

I was wondering if the home is owned by both my wife and I, does my wife have to sign the property management agreement too?

Our CPA has suggested that Cost Seg is for investors with millions invested in real estate, and more predominately on the commercial RE side.

I was wondering if I should pursue?

The tenant is concerned about their child's health.My property manager suggested allowing the tenant to break the lease without penalty or offering whatever they request at this moment to avoid potential litigation.

I'd suggest increasing rent to market at the next available opportunity in your lease. 

I would suggest you want to get the HELOC in place no, because you want to be ready to act if something comes up.

I also was wondering if I could use the heloc to make improvements to the property as well?

@Erik Heldt you can only use FHA and VA loans to buy owner-occupant property - which you have to live in for 12 months to meet the requirements.So, suggest you consider buying a 2-4 unit and make one of the units your primary address and rent out the rest.