Any before/after pictures?

I would use whatever cash you can pull out to cover as much principal you can pay back on HELOC, but wouldn't go as far as paying off everything if you have to put significant amount of $ out of pocket. 

Good people,  cause no problems.If you are going to sue,  take pictures before you re do the home.....

Definitely seems that the volume of loans and their 'call' or balloon date(s) would be relevant so I think that makes sense.At least here Jack anecdotally I have seen a slightly better picture with regards to evaluating the 'bottom of the barrel' on price point properties here in Des Moines. 

Usually, when you get under the 1.25 DCR, the lender would do cash flow sweeps to cover the loan. 

Of course fed rates may have an effect on your overall picture but in my opinion this isn't something to stress about because it's largely out of our control as investors

She can still get her exemption of $250K which would cover all of the gain. 

I think one thing you will need is Builder's risk insurance to cover while you are rehabbing. 

Assuming it cashflowed at least enough to cover the PITI, plus the HELOC payment.

Here's an interesting one: who is responsible -->My client sold a 4plex - in the negotiations they agreed to cover costs for a Home Warranty for the new buyer. 60 or so days later - the property closes at a title company.