We eliminated both of those for multiple reasons.The one that I have access/easement concerns is interesting as it is surrounded by $1M, gated properties. 

I fear there are going to be many a broken hearts and lighter wallets following that advice.I could write a glowing book on this stuff but its not reality for beginners at all in my mind. your statement above is solid gold. !!!

My main concern about keeping HELOC funds sitting in a property is the interest rate is variable and your putting cash flow at risk.  

I highly recommend using the awesome tools provided here on BP.A few more tips to get started: Find and connect with other BP members that are in your area.Set up keyword alerts to be notified of the topics that interest you.Read Beginner’s Guide.Check out BP Podcasts.Find upcoming real estate events and meetups near you.Tag anyone in a conversation by typing @ followed by their name.

I haven't had to deal with that before, which is why I'm so concerned.

Your concern should be that you will never rent a 4 bed apartment with no living room to a 4 bed voucher.

I imagine the vacancy rate is reasonable, but the very small town was a concern (and still is) and it wasn't going to be very efficient for my team to operate there so I did not pursue that deal from 2 years ago.

I would also take some time to read the BP Ultimate Beginner's Guide, I found it very helpful when I was just starting to research real estate investing.

Costin,this is common concern among self-directed investors.

Best case scenario ARV 110k purchase 63kclosing costs 2kreno cost 20kCash out refi as 75% has me at 82.5k. so we'd be in the right neighborhood.I'm a little concerned if our reno ends up at 25 and ARV is only 105k, we would be left with 11k in the budget.Is this to close to call?