I ran the numbers on it through both the BRRRR calculator and the Rental Property Calculator, but with the refinance it wasn't pulling enough  cashflow or cash on cash return. 

They will hold property tours of ongoing projects.  

What do you plan on going to college for?

If your loans will be held by Fannie Mae, then each individual are allowed up to 10 loans. but even still, in the great scheme of things, this should not be a barrier because you can BRRRR through a few properties and then simply roll them into a single commercial portfolio loan with a local credit union or bank and keep on going if it came down to it. 

You would have ongoing filing requirements with the State and would need to keep business records and documentation.

I ran this past my attorney (who is risk adverse), and he thought it was extremely risky for me and was very opposed to it. 

You would have ongoing filing requirements with the State and would need to keep business records and documentation.

I ran some numbers on the income and assumed anywhere from 55k-77k with estimated to full occupancy.

I ran the  numbers through the Bigger Pockets Rental Property calculator with 20% down (using the HELOC for the DP'; paying asking price) and got a cash flow of $368 a month. 

I don't plan on going to any courses any time soon, I haven't been interested in anything I can't find in a book.