I live in a cheaper market with a lot of sub-75k properties.

They literally wrote the book on midterm rentals and cover how to analyze markets.

I still haven't gotten the link for the new portal so I can't see the lease for the tenant and I haven't seen any money come in for August rent (PM get full first months rent so I wouldn't have gotten anything for July).In June my PM found me an off market deal and his contracting business is doing the rehab (which he's done for me before).

@Jeffrey Zhou What you are describing is that DBI receives an anonymous complaint and sends an inspector who subsequently issues you a Notice of Violation (NOV) requiring you to abate work done without the benefit of permits.So in that situation, if the work to legalize your unit is significant enough to create a habitability issue you may need to perform a just cause eviction (temporary only) that allows you to displace the renter in order to perform the capital improvement work. 

Yes, Builders have a lot of margin that they are working with typically because they set the market and manipulate the home prices.

It is not on the market but I have an investor who is interested in purchasing it. 

On wholesaling that is just transactional real estate with income that is taxed at the highest level and to be successful at it one needs partners or access to pretty decent amount of start up money to afford the marketing it takes to get your leads.

With the economy and market as they are, should I continue aggressively paying down the HELOC to potentially borrow against again or should I just pay the Interest Only (IO) payments and seek other funding at the current day higher interest rates?

New constructions in the neighborhood are selling for a significant amount above construction costs (double or more the market value of the land).  

The facebook groups are a great place to find mentor programs and such in your local markets