Most optimal move would always be to learn from the most accomplished people (lower in supply/higher-barrier to entry to give advice).But this DOES NOT imply that costly information are automatically high in value, nor does it imply that free advice is ALWAYS useless advice.

I know there are alot of variables(buy hold, vs value add, etc), but what is typical. 

If managed properly, it can work.It's dependent on so many variables, that you cant make a blanket statement on it.it up to the investor, their resources, the type of property they are insuring and what other insurance options are available for that property.In FL, if you have a $50,000 1960 frame building, that has an ACV (Cash Value) premium at $500 and the Replacement Cost premium @$4000, you may go with the ACV and save $3500, but take on the additional risk.

Either Lowes of MFS Supply.  

Look at supply/demand (We opted against JT as @John D mentioned it's highly saturated which pulls down your returns and also costs are skyrocketing making the returns lower - good luck finding the mythical $100k home that isn't a shed any longer)Best of luck Shawn

Any other variables we should consider?

Moreover, the disadvantage of the HELOC is it can have a low starting interest rate, with a variable monthly rate based on the outstanding balance, vice if you have a fixed rate loan when you refinance. 

@Lawrence SnipeThere are so many variables in that question I would not even know where to begin to answer.It first depends on the area there, it depends on the acquisition price then it depends on your equity position.

This way you will always have a fresh supply of new properties coming to you.

We did not. it is variable.