If you're going to save $500/month, I think that will be pretty fast.If you're worried about extending your pay-off, you could always put that extra money towards the mortgage each month or check out "velocity banking."

This is the truth.

Not a fan of the town really being truthful but profit is what yer after not calling it home for yerself & family i hope. 

Basically, anything other then 25% down and bank financing could qualify.Using a HELOC for a down payment is a pretty common strategy.You need to look at what the extra costs of the HELOC will be and figure that into your calculations, probably off-line in a spread sheet.

You can learn a lot here.Great question.And you might not like my answers but I'd rather give you the truth you need vs. lies you want :-)Out of state investing specially BRRRR is tough.

(If so, they will probably charge you extra to bring installers out that far).

Ask what their intentions are with the proceeds/ see if I can offer a better solution with the extra capital. 

Perhaps in a value-add situation, but if you buy a place with 40% down, I would think that you should be able to access that "extra" equity from the get go.

These details were all relatively inexpensive things that we could build and/or paint ourselves without having to pay for extra labor.

Then invest all your extra money.There is a false belief on BiggerPockets that everyone should and will succeed in real estate.